Plus managing tenants is a bit more time consuming with this model. 

To me, these kinds of things might annoy me but only VERY VERY temporarily perhaps for minutes at a time when things occur.

We're based in Calgary, where there’s a lot of pre-construction happening, and we’re aiming to buy a pre-con property as our primary residence.As a first-time homebuyer, I’m weighing two options: 1.

Rinse and repeat as many times as life allows, or convert to buying pure investments.Consider employment with a property management company.

If the company would not write this policy this way, you may have an issue at claim time. 

My parents live out of state and the purpose was to give them a place to stay for an extended period of time and we will Airbnb it when they aren’t here to pay for the property.  

There will be fluctuations on rents and much of it is property and timing dependent and not necessarily market dependent. 

I invest out of state because at the time, I could not find anything that would meaningfully cashflow, plus a $150k deal was a LOT less scary than a $800k deal!

The property is in a solid area where Neighborhood Scout puts it at the highest rating for appreciation, predicting 40% appreciation over the next 3 years, and we'd look to refi or do a HELOC in 3-5 years to realize that gain, and I'd probably buy them out with my portion at that time.

You can use this property to hedge any others that you add that may only cover themselves, or require supplement until they are paid off.HOWEVER, if you have decided that your goal is to use Real Estate as a stepping stone to build wealth by upgrading the property you hold each time (condo to house, house to 4-plex, 4-plex to 8 unit, etc) then I think you are right to sell now while you think the property is at the top of it's appreciation.It will be hard for anyone on BP to tell you what to do as we don't know your goal.You are right.