I'd look into sound reducing alternatives before you throw the baby out with the bathwater. 

You should ask them how their other creditors handle their payments.I used to offer 5 or 10 day grace periods such that rent was due on the 1st, but no late fee until 10 days later, then I reduced it to 5.

While a 0-4% cash-on-cash return isn't ideal, remember that house hacking provides value beyond pure cash flow by reducing your living expenses.

If you're keeping it a separate studio rental and want to maximize the space, then removing it seems to be the right move - and definitely reduces the liability.

Cross-Collateralization – A lender may finance the full $160,000 purchase by using your existing properties as additional security, lowering their risk and possibly reducing your down payment. 5.

Other investors have had distributions restarted but at a significantly reduced rate.

Significant industry investments announced in Texas in the last two years will further accelerate domestic semiconductor manufacturing, reducing reliance on foreign production and supply chains and further ensuring our nation’s security.

I would buy something closer to turn key if you can, even if you pay up, because it will reduce the work you have to do and figure out as a new large-scale investor.

In terms of the permitting process, an architect that can self certified drawings would reduce the wait time to receive the permit. 

Just take out $60,000 from the property, reduce your cashflow & ultimately pay WAY less in interest.A Cashout Refinance is sitting around 7% while Credit Card debt is sitting above 20% on average.I know far too many people who regret selling real estate looking back 20 years, but I've yet to come across one who regrets keeping it.