Hi Don,I'd imagine you could get very close to the upb on the note say 75%-90% upb based off of a few factors, such as borrowers credit and value of asset.

For someone with your background that has built companies, I can imagine completely handing off control in a syndication may be challenging.  

Imagine the 2nd property is a 4plex, each unit can be rented $1500/unit of 75% =$1125 x 4 units =$4500 worth of income to offset your that 2nd property.

I can't imagine Rockford being a destination.

Many of the virtual assistants that I have hired have told me stories about getting yelled at constantly (one worked at Comcast, if you can imagine) and almost all of them have had stories of either not getting paid, or not ever knowing when they would get paid.

You'll also want to have plenty of your own capital in reserve to deal with vacancies and repairs.I imagine a lot of the tenant-landlord problems can be prevented by providing good customer service and having clear standards, both in who you rent to and how you maintain your property. 

A lot less and better quality, I’m in Detroit you can imagine all the junk the big three brings here and making low quality cars.

The point is, if you can break even now with high rates, imagine another future refi to lower rates and making positive cash flow again.

There are also a  couple of things you could do on Airbnb to fix this, the could transfer funds from the rentals into your account, you could take over their account momentarily but I imagine Airbnb frowns upon that.I think the pro/cons are the same as any other property you buy that is already occupied.

People felt invaded by putting a picture of their property on the card and I can imagine they would feel the same way with you putting a picture of yourself in front of their house.