My mind frame now has evolved from two years ago, and I now see the extra income as enabling greater security reserves, providing the ability to hire repair folks instead of DIY which saves personal time, and to improve the property more beyond the minimal.

However, the law also requires you to make a "good faith effort" to find a replacement renter and minimize the damages charged to the previous renter.Because you are moving in, you can't market and find a replacement renter.

I am a senior citizen and wish to minimize the stress in my life. 

You will be wasting your time if you don’t.

The differences between conventional and FHA in the single family realm are very minimal, and conventional will provide you the better terms overall, and allow PMI to drop off automatically.

I wasted 2 months and lots of money on Zeus Lending incompetent loan officers.   

@Jerad GodefroidI understand your position and interest only will yield more cashflow but in the first few years of an amortizing loan; you pay really minimal principal which will make the difference between interest only and amortizing payments negligible in my opinion.

Doing a large value-add component where you recoup all/most of your cash to offset cash-on-cash return of minimal cash flow.

I do not think the voters that voted for this are smart enough to realize that the this rent control will lead to no new multi family construction, minimal maintenance occurring leading to plighted areas, and a significant reduction if rental housing stock.If the voters are so ignorant that they ignore the experts/economists, then they get what they asked for even if what they asked for is not what they were expecting.If you have rentals in St Paul, I would be looking to sell. 

We do a free application first to pre-qualify the individuals before we have them submit to the paid service, so that they're not wasting their money if they don't qualify for our property in the first place.