So multiple eyes and local expert providing local cost and input on lifespan.Here is an example that has a part that is more expensive in my market than other markets (unlike most parts that are the same everywhere, so in this case your cost should be significantly less due to both cheaper part and cheaper labor): $1600 40 gal water heater installed (this is good price for a plumber, a little high for a handyman) with expected life of 12 years (i have some that go 20 years and some that die in less that 10 years (mostly rheem die in less than 10 years), 12 years is fair life expectation

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

STR insurance provides broader coverage, including liability, property damage (even non-guest-related), and gaps Aircover might not cover.For damages caused by guests, document everything (photos, receipts, estimates) and file a claim through Airbnb.

These I have found are real, striving parents, working their butts off to provide the best housing and school system for their children.My ethos in this approach is exactly why we at LaPlante refer to them as Residents, as we consider "Tenant and Landlord" to be dated terms and rife with negative emotion.

I than let them know my top choices for PM/TP provider in that specific market, not just my own but whoever I see as current best, and what there rates are.     

Just note that if you want to put the property into an LLC and have a mortgage on it, you will need to talk with your provider to see if this is possible without refinancing.

It is now paid for, is worth triple my purchase price, and provides about $60K a year in rents.  

Regarding a HELOC, most banks will only provide a HELOC up to 75-80% of the property value, so you may not be able to access a HELOC for a while.

Would love to provide an update in a few months!