There are a lot of rules to follow, but make sure you have a great custodian. 

Nope, time to read a book on RE!

Also, expect to pay 20%+ management fees to cover all the extra resources required.Co-living pretty much only works well with Class A properties and high credit score tenants.Class B can be done, but may take a LOT of time to find compatible tenants.Class C & D will usually just be addicts and criminals that will takeover & ruin your property.

A lot of people watch the TV shows and think it is easy money ... most of us learned the hard and expensive way.Good luck in your journey ... wish you were closer to help!

Vanguard and Blackstone have a lot of interest here as well. 

=)I came across this post while doing a Google search and wanted to chime in.I’m Mark Simpson, founder of Boostly, and I’ve really enjoyed reading through all the comments.

Don't talk yourself into a place because of personal use.Buying a $475k condo that brings in 35k in gross rental income will lose a lot of money.

I've been using Dealcheck.io to do deal analysis but have been hearing a lot about Backflip recently.

I've been doing some light reading, and it sounds like refinancing that property and using the proceeds to reinvest elsewhere might be a better option. 

I believe the prices will fall even more.