They might pay a little more but not enough to cover the extra condo fee. 

I hope you get your money back soon.

I feel confident about making the property cash flow once we get tenants in the home with the co-living strategy, but just covering all my bases, I would feel a lot better with an extra exit strategy of being able to rent the home out the normal way with one tenant.

Yes, the more deals you do, that are profitable, the more money you make. 

-My fiancée and I are planning on having our first kid by the beginning of 2026, so extra room would be ideal as we are somewhat limited in the primary residence. 

Being furnished is also extra work, more things to break and be maintained.

Then sell on the side, extra pipeline for revenue. 

Unless you have an immediate need for the cash I'd wait until I could pull out the extra $40k. 

Quote from @John Underwood: Are you sure it's not $600 extra per year?

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!