However, what if you prefer simplicity, limited risk, and are living off of the income? 

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain. 

@Sean Dillon figure out how to buy a 2-4 unit with FHA loan.Then rent at least one of the units long-term for stable cashflow.Try STR in another unit as well as the other bedrooms in the unit you live in.You may even consider living in the basement, attic or worse unit in the building to rent everything else out and max cashflow. 

There just trying to eek out a living too.

Just an extra couple of clicks to do.

Closed with no issues, inherited great tenants and have really enjoyed living in this neighborhood Lessons learned?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

If it’s a must-have, it might be worth the extra time in your schedule.

I'm a Realtor with a couple properties listed in Boise, ID and a neighboring town for my investor/client that are currently rented as co-living or rent-by-the-room and getting killer income. (7.3% - 9.5% Cap rate) So far, every inquiry has been baffled by the concept of co-living or rent-by-the-room and immediately ask if they're being run as a halfway-house (which they are not).

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!