I would rather lose 100 bucks a month in a solid area, than risk making 200 bucks a month out of state, class C-D, or in an area I don't fully understand. best of luck

I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month. 

Let’s say with your plan they make an extra $100 or $200 in fees and you lose $1000 or $2,000 in bookings.

Its easy to get wrapped up in wanted to learn everything, and it ends up in people losing sight in what their original goals were from the start. 

@Hedman Maximus too many investors worry about DIY pennies, while losing dollars - which it seems you may be doing.Why can't you hire a PMC to handle the properties for you?

That way my money can keep working for me and I have the peace of mind that I have cash available if necessary.

Just curious.If you are going to pay a PM, just be aware that you might not make any money on it.I just use a spreadsheet.

A couple of months ago, I purchased a property using a hard money loan for $115,000.

The interest that it does accrue is money you don't lose, but rather it does go back into your investments. 

If they don't NEED the money for a down payment elsewhere, the income could certainly fund their payment at a new home, rental or retirement home.