I also have painters, electricians, tile and flooring and carpet, roofers and siders.  

The ceramic time was already in LR.

We had to call in the big guns to do tile, but I was able to do everything else for the renovation.

As someone with slightly below-average skills, I would have a hard time achieving good enough quality ceramic tile work. 

Seems steep for what it is.Labor only: $6,300Demolition, new drywall & cement boards installation,Floor tiles installation, Bathtub installation, Vanity & vanity top install.

There have already been some great replies covering the NEEDS, so I won't comment on the LLC, insurance, or lender variables.But I do have a few pieces of advice:1) Prepare the house to be listed and have it reflect the type of tenants you want.Far too often you see owners transition their property to a rental and don't properly prep the residence for renters, which leads to longer vacancy periods, lower rental rates, and sometimes less desirable tenants.When we transitioned our primary to a rental, we patched all the holes, painted most of the walls and touched up the baseboards, cleaned the tile and grout, deep cleaned the appliances, and manicured the landscaping. 

If the floor tile is in good shape you can tile over it.

Needs about 1,000sq ft of wood tile flooring, dry wall patching in a few places, wood floor sanding and repair, and a few other small things. 

Does he have to be on the tile for it to be owner occupied?

(Example: Pink wall tile all around the bathroom and a certain floor pattern = original bathroom and lead pipes underneath have not been replaced).