@Amable John Aguiluz XIII I appreciate the reference, however I'm nearly certain that those conditions (and that form) apply only to a periodic (ie month-to-month) tenancy.

@Christian Weber the first question I would ask myself if I were in your shoes would be, “what do I want; 2x-4x my money in a short period of time (rehab projects) or do I prefer to build long term wealth (rental income)?”

Termination of periodic tenancy).I'm not quite certain what the landlord's remedies are if you don't provide such notice.

Then you have issues like this, directly from an current appraisal that basically says there is no way to value the property: "The problem with the MC data presentation is that the subject's submarket is so small, wild fluctuations can appear from period to period...

It would also take away any headaches for her during that time period.  

I moved into a brand-new home and lived in it for five years and it had more problems than the previous three homes combined over a 15-year period.

Yes, you can definitely refinance a rehabbed property - but most lenders will require a six-month seasoned (waiting) period. 

Your assets would need to be able to cover PITI for a 36 month period (i.e., ($400k minus $ to close)/36).

I will have 80k to use therefore i am wondering if I can first live in the house with an fha loan, fix it up (painting, some remodeling), move back out and invest in a second after i am allowed to rent it(fha waiting period)? 

You must have a good grasp of the styles and architecture of historical periods.