Co-living provides built-in diversification, lowering your financial risk compared to single-lease rentals.5.

As a contractor and cabinet maker it made much more sense financially to purchase a home with a rental unit and manage the property myself.

Since I'm not a pigeon forge local, I also don't have a good feel for the appropriate cost of goods and services either.While I don't necessarily suspect anything nefarious from the management company, I don't now that our financial incentives are always well-aligned. 

Ready to learn, grow and gain financial freedom and generational wealth.

I’m drawn to real estate not just for financial freedom but to build a legacy for my family while contributing positively to communities.

Financial terms.  

Weirdly, you may actually be able to get better terms and/or more LTV on the refinance if there is debt on the property as lenders have rules for max cash in hand (max proceeds you get at closing) for cash-out refinances.  

@Ram Go "Initial Debt" may or may not be the same thing as the current loan balance. 

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

@Andrew Drasch As an entrepreneurial CPA, I believe that mastering your craft is essential, and that investing money strategically leads to greater financial success.