@David OvercashRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

We have a property that I'd like to pull money out of, to buy more property,  would I use a Home Equity Loan or is there another better option?

what metrics do you look for in a metro/city to indicate that a co-living property is a good investment?

@Justin Brin Yes, you can elect to aggregate your rental properties for Qualified Business Income (QBI) purposes, but once you do, you must continue to aggregate those same properties in future years unless there is a significant change in circumstances (such as disposing of a property).

Vacasa is more of a marketing company, not so much actual property management.

Quote from @Adrian Clapp: Montana’s proposed law would lower property taxes for primary residencesand long-term rental properties while increasing taxes on second homes and other high-value properties.Pigeon Forge area made all STR's commercial properties and substantialy increased the property tax on these properties.Unfortunatly this is the cost of doing business. 

He knew the person selling this property and asked if we were interested.

I know it's not best practice but we do the same thing and we have 5 properties. 

The properties are in Columbus, Ohio. 

Both of your strategies—house hacking a new property or purchasing a dedicated rental—are solid, but house hacking can be a great way to maximize leverage and grow your portfolio faster with a low down payment.