The Standard 203k has a min of $5k in rehab and the max loan (including rehab) goes as high as the FHA max loan limit for the area, which for Houston is $331,760 for 1 unit, $424,800 for 2 unit, $523,450 for 3 unit, and $638,100 for 4 unit. 

Or can I use a standard template from the Internet and then have it reviewed by an RE lawyer?  

@John Teachout that is our standard practice as well, doesn't matter if tenants move in on the 1st, 2nd, 15th or 30th.

One thing I personally dislike is that the master closet, which is your standard 5' wide closet, houses the water heater.

This is a good time to start bringing a team of professionals on board to help keep your project cost effective, completed to the proper codes and standards and completed in the shortest time possible.2.

My standard answer for being asked the reason for the HELOC is "upgrading the home". 

There are plenty of options outside of the standard captive companies like Statefarm and Farmers - independent agencies will be able to structure what you’re looking for through a master policy, which often times translates to savings in premium as well. 

I pay standard rent on my side just as my tenant will be.

Is there a standard contract folks use? 

AirBnB just released their new cleaning protocol standard and are trying to get hosts to commit to it.