I draw the line when the house needs everything replaced INCLUDING new electrical...if the drywall has been ripped out to get 14ga romex then it's time to walk away and let it get torn down.Throw me a PM or a call/text, happy to take a look at it and let you know what you are dealing with Stephen!

Also, did you include a home-inspection contingency with the offer?

In the link that @Daniel Kauffman provided, several of the house hacking strategies mentioned include the use of AirBnB. 

I purchased the property using hard money (including financing most of the renovations) and now I am trying to decide whether to flip it or refinance and hold it for a year.

I also played sports during my college career (swimming), nationally and internationally.

I guess that's why we include repair costs in our monthly expenses

Rent is $950, mortgage $512(taxes and insurance included) So, there is a good chunk of equity in that property.

If accepting section 8 again, we would simply include the section 8 payments in their income criteria in order to fairly screen the tenant. 

All of this is my rental agreement including house rules.

If that includes electric and gas you’d have to sub meter most likely.