Assuming your friend has a contract with the management company it sounds like (s)he may be in breach of that and could possibly be sued for damages.

Purchase price: $785,000 Cash invested: $156,000 Short term vacation rental in Panama City Beach.

Another possibility I looked into is simply leave the current SFH as is since we have long term tenant, but build ADUs on the lot.

To make a long story short, they are no longer able to make payments on the property and are in danger of losing it.I have a rental property in Southern California that I currently own whose value if I sell should cover the outstanding loan balance on the farm.

I totally recognize that is impatient and greedy.My gut is saying your short picture idea is where we're heading since we are taking the same hit with brokerage account (I didnt even mention borrowing against 401k - yes its not advised but my wife and I have stable W2 income to pay ourselves back) Thanks again, this BP community / forum is awesome

Hard money loans can be an option, but they often come with high-interest rates and short repayment terms.

Long term Appreciation is likely to happen.  

You're going to have other trade offs like higher interest rates, shorter loan terms (like 3 or 5 years) and maybe more lending fees. 

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too. 

The time has come for me to start investing in real estate and before doing so i'm looking to build a strong and dedicated team of partners: agents, lenders, contractors and property managers mainly in the Cleveland area (but also open to markets within a 2-3 hr drive away) that already possess an excellent track record in their line of work and that value long term collaboration.