In the majority of fraud or Ponzi Scheme cases the common theme seems to be that the money is mostly gone, and whatever is left runs out before a large portion of the victims are made whole.Sounds like the majority are first position mortgage holders.. this is super simple find an attorney that specializes in mortgage foreclosures and file. there is a federal law that went in post GFC that requires lenders to give a 90 day notice before they can file and I think it pertains to any loans on any 1 to 4 unit properties  the assets that Dodd Frank was designed to regulate. once the 90 days is up you file your foreclosure  in OHIO its a mortgage state so it cost more  money than a Deed Of Trust with power of sale state.  

It will also be difficult to find a licensed contractor who will feel comfortable signing off on the work if they didn't do the work themselves. 

We don't have kids yet, so we knew this would be the most comfortable/convenient time in our life to house hack.

@Lucas Gomez investors in California and Washington face the same question.You'd need to analyze the trends and get comfortable with the risks, but it's done all the time.

I was out of my comfort zone at the time but I didn't over-leverage myself or capital.

I have a PhD in Theoretical Chemistry/Quantum Dynamics... https://pubs.aip.org/aip/jcp/article/142/24/244112/74387 ... and I literally designed and built my own house off of 30A in Florida ... https://www.scenicsir.com/homes/242-Blue-Gulf-Drive/Santa-Ro... ....

Look into local market trends, property management needs, and the level of involvement you’re comfortable with.

I’m comfortable sacrificing a bit on revenue in exchange for steady cash flow, lower expenses, and fewer headaches.However, if you come across a standout property with a pool and great amenities in Scottsdale, it could be very beneficial during spring training or for bachelor/bachelorette parties.

A "one night allowed" booking will put you almost as high as IB, but you can then decline any one night booking that you do not feel comfortable with. 

Not everyone has the time and ability to do that and not everyone feels comfortable turning over control.