I understand the basics up until after the refinance.

Another option would be luxury vacation rentals which I understand can cash flow more than what I'm making but may require more hand's on.

While I understand the excitement of the "house hack" idea, it can be challenging to start out with here in Memphis.

What you should understand is how those items that are "passed through" from the K-1 impact you from a tax perspective.You  can ask the syndicator for a sample K-1 (we provide to our investors).   

The financial world understands W-2 income, but has trouble with self-employment income.Unless you've started a business before, it's hard to know the stuff you don't know.

I'm not sure I understand the question, but as long as you give the current tenant the legally required length of notice for the non-renewal of the lease, after they move out, someone else can move in immediately.Edit: if it's clean and move-in ready

I don't want multi-family and I already understand NNN, so I'm just exploring other "outside the box" options that are low impact and very passive. 

From my understanding of the previous management company she has not paid her last months rent for this last month of July yet.

It will help you understand tax law and changes etc.

I understand this post may be incredibly vague but any help/ direction would be appreciated.