A lot of this process depends on your laws regarding STR and Mid term leases/occupancy?

To answer your question, “it depends on how much money/net worth you have.”  

Midnight drunken brawls happen, but are more infrequent then you might guess depending on your screening. 

On an annual basis, the administration is mostly meeting minutes, resolutions, and annual filing of your 990, most of which can be outsourced depending on your budget.

Always trade offs, especially depending on how long that buyer is looking to keep the property, or refinance.

Depending on your estimate of the ARV and the ability to raise the rent on the 1BR, this looks like a "lendable" deal, IMO. 

I know this is a very general "well it depends" question, but I'm just hoping for some general advice and direction.

Highly depends on the particular community. 

Losing $1,300 per month at a minimum doesn't sound amazing, but it completely depends on your financial situation. 

Hi Brandon,Personally I think it all depends on what kind of "avatar" you are.If you have high risk tolerance and have time to spend, active strategies like flips and BRRRRs will yield better returns and more opportunities.