And some lenders will let you pay the interest by drawing down on the loan.

I am on a similar journey as you.

I think just the bedroom, but it depends on the configuration.

Also at closing: You should provide proof that the lender is named as such on a valid hazard insurance policy effective at least on the day of closing.Regarding the closing to sell or refi, yes, your lender will just need to provide a payoff letter with wiring instructions to the closing agent.

Appreciate any insight  Depends on where you are because every state and locality is different.

This tenant an elderly lady who's on section 8.

I would get a professional opinion from a qualified contractor , you may have storm damage already that could possibly be covered by your insurance 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Each option has different costs and terms, so compare them based on your transfer amount.

This means you need boots on the ground.