You don't need a General Contractor (like you do for the FHA 203k rehab loan) and you only need one bid for each part of the work (electrical, plumbing, etc.) versus 3 different bids for the FHA 203k rehab loan.  

Your best bet is to google "rent to own ____your area___" and poke around some of those sites.

Your best bet is to find a duplex you are willing to live in and go FHA save your money that you don't spend on the purchase in reserve in case you need it.

I like that.I found my local REI are the best bet.

Typically I think they require a variable rate versus a fixed rate, which would be less attractive to me currently considering that interest rates are likely to continue rising.I am honestly not too familiar with refi's since I've never done one before.

Princeton is such a nice community that I bet you'll get back every penny of the cost of the improvement and then some.

Best bet is to try and find properties not listed that you can obtain below market value.Hopefully my post was helpful to you and I know your frustration because I am always looking for deals for my investors.I have over 15 years experience in the business and was my mother's assistant before so almost 30 years. and altough I have seen almost everything that can happen in a RE transaction, each one is truly an adventure.

So I'd remove the tap or put a lock on the tap that's outside your garage, or lock the electric panel and shut off the pump so they can't access it for use.Water is expensive and you can call city to find out cost so if you decide to let the HOA use the well I'd get your HOA fees credited or have the HOA pay you direct..Your electric for running the pump is an expense, and I bet they've used it season long to refill pool when needed. 

Renting this room will allow me to take my time when conducting research on the market, versus jumping into something that may lead to regret. 

I am running the numbers to compare a rental here versus Indiana.