The visionary is full of ideas, has a high level of vision where he or she wants the business to go, maybe sometime loses track of the practical nuts and bolts, and is perhaps not very detailed oriented.The integrator makes it all work.

This isn't simply subtracting REI time when you are acting as a PM, this is also "losing" the compounding effect of your time when your PM "job" takes time away from your REI "business".You can always get your lost money back, you can never get your lost time back...so don't lose it.

Building Equity: Part of your rent can contribute to the eventual purchase, helping you accumulate equity.Cons: Risk of Losing Money: If you decide not to buy at the end of the lease, you might lose the option fee and any rent premiums.

Swinging for the fences every time is a recipe for losing money. 

Some folks do well and others lose their shirt and go bankrupt.It is definitely a risk and you are creating a job for yourself, but judging by your wording, you kinda want a business instead of investing.It is scalable based on your area and how much risk you can tolerate.

Without having done a flip before, I would say it's very unlikely that will happen seeing most people break even or lose money on their first.

The objective should be to protect yourself and properties without adding unnecessary complexities to your business and greater emphasis should be placed on reaching better balance.

It does not cash flow now with the increase but if I raised the rent it would cash flow a couple of hundred dollars a month (the home is paid in full), at this point I'm losing money (between the tax increase and repairs)Are you betting on appreciation in your investment strategy?

Guest takes more care of the property, since you,  the host, are the only judge to decide if you retain or not the deposit in case of damage or issues.Another Good: You can write in your contract that non respect of rules may lead to lose some of the deposit: Like noise, or a very unclean check out, etc...

Have you ever heard of a Landlord being sued by a Tenant and losing property?