Here's a good breakdown of your options for tax collecting starting Feb 1 based on the new regulations.

Don't be so quick to indebt your paid off townhome until your learn creative financing and review all your options.

Stessa is a pretty good option but only for the management portion.

I think you’re under a misconception that’s leading you to think you have options you don’t…You say it’s worth $1.1M and you’d net $500k.

If you're considering Real Estate as an option in the future, I would not add the money to either of these accounts. 

You could also check out options like Cozy or TenantCloud for similar features.When converting to LTR, just keep an eye on local rental laws, lease terms, and any rent control rules that might apply.

For smaller deals like owner finance options, it's important to build a strong relationship with the seller, as this often leads to more flexible terms.

The reason why I ask is because that could determine what loan options are available to you (and interest rates). 

Homewrite is seems like it could be a good option.

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.