Good thoughts as we embark on this New Year.....our time is precious and should be valued way more than most people do.One of my favorite sayings - "Money is a replacable commodity, time is not"

I believe if people make money and there is sufficient housing supply, housing will become affordable. 

You risk going over and then you are no further ahead if you sell.If you do renos and rent it for $300-400 a month more, it will take you more than 5 years to get the reno money back.

It isn't refinancing to take out money that I have a problem with, it's "cross collateralization".

typically (as you probably know) you buy something distressed, with either cash or hard money, you fix it up, and then you refinance into long term debt. 

@Steven Catudal in my opinion that’s cheap money.

I’m new to BiggerPockets and I’m a private money lender.

More big name companies will join the STR industry and hosts who are not exceeding expectation will be weeded out by their money power.

I do think it is a good idea to take some money off the table when an asset runs up and diversify.  

If you have evidence of the damage, it is unlikely the tenant will spend the time and money to take you to court.