I eliminate all corporate owners as they will be more sophisticated than I want to deal with.

I was speaking to Joe though and you can see that do I g it correctly eliminate 33% of his steps!  

@Mindy Jensen, an LLC (Limited Liability Company) by definition is intended to LIMIT the owners personal financial liability, but NOT to eliminate it.

I have an excellent credit rating and my debt to income is 28%.Should I refi now (before 2016) or wait another year? 

There is no extra debt and no interest payments.Live in the home and continue to enjoy its appreciation.

Assuming the claim won, does anyone ever able to collect money from tenant either through their pay check deductible, debt collector, get arrest warrant for non-payment ..... etcI guess tearing up the carpet, put a new floor/carpet on, cleaning fee, wall damage, I am also planning to charge her for breaking the lease (charge 2 months, is it reasonable?)

So let's say you do raise rents to $750 like you believe you can (and do check Rentometer to confirm) you're indirectly eliminating the water bill.

Are you 100% cash, using a combo of debt and equity, hard money, etc.

I am 36 now, but when I was your age I was deeply in debt, had awful credit and had no sense of how to handle my finances.  

I never liked the idea of working as a means to an end, but as I get older (31), I am realizing that I could help so many more people if I don't have to worry about paying back all my debt and spending all my time at work and being stressed.