Thank for sharing @Duncan Hayes and @Alan Bailey.

Given everything you've shared, one key thing to consider is flexibility.

Looks like you  may know who does those...please share!

I'll definitely reach out if I have any questions.Your offer to share tips and tricks on the finance side sounds incredibly valuable.

After one year the REITs were being traded at $.01 per share!.  

To maximize your chances of success, recommend sharing that and the percent increase in taxes & ins with tenant and asking them what they think a fair increase is.- If they say $0-$50, you'll have to get rid of them at end of current lease.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.

If you’re feeling uneasy about the potential headaches, you might consider a local property manager who specializes in room rentals or shared housing.

If there's a family member or friend in a similar situation, and you can both align on the initial plan (location, home type, price, usage/occupancy, etc) you can pretty easily get a co-ownership agreement in place and even a joint mortgage.The benefit here is it might open up your ability to buy a larger place in a nicer area which could lead to a faster rate of appreciation and overall better living environment. 

I openly share the historical performance of my Detroit rentals for anyone interested.

I don't have any experience in Augusta, but if you are interested in Detroit or Memphis, happy to connect and knowledge share.