You can probably get away with it since it's your primary residence...

I like to round up in my budget, if I know I can get appliances for $1800 out the door, I'm putting $2000 in the budget. 

I also have a friend who has purchased a few SFHs in Round Rock and has had a lot of success within the past year.

I actually was taking a few months off to get away from my old partner and go through my Paralysis of Analysis period from November-March.  

interesting marketing strategy... think of all the play on words you can do with "honey" and getaway concepts... 

Each room will rent for $450 a month year round and I will pay for utilities.

Extra insulation all round including between floors.If someone else makes the design choices, you can easily be dissatisfied with the finished result.

(Note, you may get away with having those products but the reality is that you got lucky.)

He'd obviously be taking a hit on the sale price but dont the banks get away with it all of the time? 

If after reducing my gross rents by all allowable deductibles, I have $10,000 in remaining profit for the year (to use a biggish round number), do I pay taxes on that $10,000 as if it was additional income and therefore pay it in my AGI tax bracket?