Would a turn key residence be better for my first house hack compared to a simple renovation backed by a FHA 203K loan?

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

Concerned he may want to come back so how do I ensure the asset remains mine. 

The loan officer can tell you all day long they will release a property if you wanted to sell it, but servicing and back-office people often find other covenants in the loans to stall a release.

Is your time in college worthwhile or holding you back?

Thank you for getting back to me so quickly.

The problem is "best laid plans".

I’ll try and remember to post the location back in this thread, but I’ll definitely make an event here on the BP site once a location has been chosen.

This is a great website that should definitely be utilized.Electronic Locks / Lockbox - Day 1, I have a handyman set up electronic locks on the front and back of the property and set up a lockbox on the premises for contractors.Welcome Letter - Day 1, I provide the welcome letter going over the new ownership and any other applicable information.These should be a good starting point. 

You can also watch this stream I did for BP a few years back that might be helpful: Just know that it's harder these days with interest rates at where they are.