Our personal  house had previous work done but the piers were poorly done, and we noticed dry wall cracks and tile floor "separation"  about 2 years back.   

As others have mentioned, there is a personal aspect to doing it this way since it involves yourself, spouse, and possibly a family. 

You will need to allocate the expenses between the personal and rental portions of the house.

Personally I’m having a hard time coming up with Cons, and that the Pros greatly outweigh them.

Also, I would personally get rid of the dishwasher as well, 1 less liability to worry about.

I personally hear from tons of people who think the market will come down, due to the struggling middle class and the fact that it will get worse.

Is landlord responsible for tenants things?

I'm not.The way around it is a single-person LLC owned by only one person and not their spouse.

However, minor cosmetic repairs or repairs to personal property cannot be deducted such as paint, replacing broken hardware, fixing leaks or holes, etc.(2) If you have other types of investments (e.g., stocks or mutual funds) that are operating at a loss, if you liquidate those investments to take a loss, you can use those losses to offset your capital gains.

I will try to find such a person.