Covering my bases!

The biggest thing with this is if something major happens are you legally covered if the unit is illegally rented. 

Does anyone in the field have any advice or insight on the business to beginners?

Do you think it's common for a tenant to sue for an amount greater than insurance can cover, then take your property or even your personal assets? 

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

A few issues come into play on this.1. 

Most banks won't want to come in with a line of credit that is second lien on the property.

-- How many and which websites is it on overall?

Would it be helpful to connect on a call and talk through details of this property and laon types? 

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.