Does the section 8 program provide any repair/replacement funds if house is trashed? 

Shan, I might know someone in the area who could provide the services you're requesting.

Could you please provide suggestions?

I was looking to convert that into a self directed IRA.Does anyone have recommendations of service providers I can reach out to in order to set that up? 

I have already posted it on the myhousingsearch website, but is it just a waiting game from here on?

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

As a contractor I provide free estimates, simply email the prints in PDF and 7-10 business days later you'll get a professional bid.

However, it does not provide the same coverage as homeowners insurance, which provides financial protection in case of damage to personal property, disaster or accident such as fire damage or theft.  

There are provisions for owner-occupied and non-owner occupied STRs in Sacramento : https://www.cityofsacramento.gov/finance/revenue/short-term-...The latter requires a conditional use permit but I don't see any info about that in the website.

A bit of rewording on your lease should cover you, but even with the current wording, it implies that the deposit is provided before the lease is signed"Roommate has to deliver to Landlord a deposit in the amount of seven hundred fifty dollars ($750) ("Initial Deposit") before move-in.