Some feel that as long as it's kept arms length and documented tightly that they can do it. 

its the title company that will not insure it to you new buyer.. or lender.you can rent it and own it or live in it..  

The monthly numbers:Gross Rent = $1100Taxes & Insurance = ($156)Vacancy = ($92)Repairs = ($77)Trash, Lawn/Snow, Inspection Fees = ($103)PM Fees = ($161) based on 80% first month, 8% monthlyWater = ($46)Capex = ($110)Total Cashflow = $355/mo, $177/doorROI = 9.5%.  

I own a home in Beavercreek and I'll be selling it when I have to move in a half a year because the rents would barely cover the mortgage/taxes/insurance.

If yes, then they should know what documents are required for what you are trying to accomplish.

Best thing to do is hire a licensed and insured plumbing contractor who knows and understands the local building codes and ordinances to perform the work properly.

Did you purchase buyer's title insurance?

Only that the closing of your sale happen prior to the closing of the purchase.The greater issue for you is building the documentation of your intent to buy and hold with the unsolicited offer to sell quickly. 

Asset verification: How much documentation do they require, obtain a check list from them of what is required?

Direct expenses can be deducted in full (such as advertising and tenant screening), while indirect expenses have to be split proportionally between personal and business use (such as utilities, insurance, etc.).