He admitted to misunderstanding a reg on an article a couple of years ago I'm not sure if it was this one. 

I would think if you bought low and forced some appreciation then refinanced, you wouldn't need to pump cash into the mortgage to do what you describe.Unless I'm misunderstanding you...I'm interested in BRRRR since buying retail doesn't make sense to me. 

@Beth Lugo - all of that said, do not misunderstand my comments.

Or am I misunderstanding something entirely?

Don't misunderstand me, I totally think it is a huge mistake to just rely on Airbnb liability coverage.

@Amir B. ...this is a complex one...there seems to be some good stuff, and some bad stuff here...The good:It's a B neighborhoodYou had a tenant stay over 5 years (which is usually a good sign)It sounds like the property has appreciatedIt sounds like you can get a PM to manage it for youThe bad:it's vacantyou have some looming capex (though, if all it is is a $4-6k to waterproof the basement, that might not be the end of the world)you seem to be misunderstanding gross vs. net rent income, and you also seem to be misunderstanding the principles of using leverage/debt in real estate (regardless of what you decide to do with this property, you'll want to study up on these topics) you paid off a mortgage that was locked at a low rate, and now rates are substantially higherYou have a LOT of money tied up in this propertyThe market is falling in most areas, and cash buyers are already finding good opportunities (and they will probably see even better opportunities over the next 6-12 months)...if you can get cash out of this property and use it to buy another property (or invest it elsewhere), that might be a viable course of action, but you'll want to run your numbers carefully... 

Can you explain more about why people misunderstand initial cash flow?

Misunderstandings are not good. 

Message me if you would like some more information or I am not misunderstanding your question! 

It is very helpful.As for the tenant misunderstanding piece, I think a bit of education could go a long way in introducing how heat pumps work and how to minimize energy costs, so I don't see that as a non-starter.