I added a clause in their lease that makes them responsible for weed and trash within ten feet of their space.

My understanding is profit from lending is considered "taxable income" and is therefore added to your income and subject to your normal tax rate after all deductions, etc.

Adding a 1/2 bath, new roof, central air or other typical improvements will increase the value of the property. 

You already live on the property and would be adding three more unrelated people, which is not allowed.Here's a link to the actual code:https://online.encodeplus.com/regs/orem-ut/doc-view.aspx?

The extra cost to do two separate loans will be worth it, especially if you do not want to be stuck with the loan for a long time. 

So, no extra cost to you for doing that in essence.

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

@Mindy Jensen - Wasn't there something about how "Adding more people to title" could boost the primary residence cap gains exclusion from $500K to higher number?

I'm in the Tampa Bay area and I will put an ad on Craigslist, Indeed or post in a group on Facebook for AirBNB/STRs. 

As an example, we decided to replace the windows in a house we were renovating and ended up costing us $50,000 extra because we got into issues with permitting and suddenly found ourselves having to hire an architect, speciality contractors, etc.