Of the remaining options, the bedroom near the kitchen would be preferable. 

However, remaining as long term stock investor may be a better option.Any thoughts?

I did have a reasonably flexible job, where if I came in at 9am instead of 8, or take a 90 minute lunch it was okay.In this regard a flip and a buy and hold will be comparable. 

The goal here is to be compassionate, flexible and understanding, but to also come up with a written agreement for how the tenant will pay their rent going forward.

If you do the cash out, you should be able to get around 70-75% LTV, and then you can get a HELOC for probably 90-100% of the remaining LTV. 

The thing with HELOCs is that, unless the borrower requests in writing that the line be closed, it will remain an open line of credit regardless of the payoff.

If she has the power of attorney then waiting 10 days is not a big deal while you wait for the remaining funds.

You can request an 18-24 month term to give you more flexibility with the refi.

A lot of investment going in to Henry county right now and in the future so it looks like rents will remain/increase.

For the future, when buying a place that is occupied by the seller, always have escrow hold back a chunk of money and have contract wording the each day the seller remains past closing will cost a certain dollar amount.