Additionally, Airbnb income during this period could generate steady cash flow, though market conditions and regulatory risks should be considered.

He often tells me how much he enjoys getting my payments each month.

While the debt would whip out most of the profit for 'x' amt of time, it would seem to be logical to take on the risk at a net zero income for x amt of years if after that point, the cashflow is all positive.

That's tax-free money, but your rents need to be able to support the new mortgage payment.

He could get fired from his W-2 at any time, that's a risk too.Go for it.

Or free up more of your time depending on your goals?

If other people take aggressive positions and gain or lose money that is their risk assessment.  

I think he's in the process right now so I'm not sure how it's turned out, but last time I spoke with him it seemed that it was going well.I always tell people looking to do co-living that there is a certain amount of risk that you have to be willing to take on.

I put 30% down to reduce risk and create more cash flow.

I really believe that we live in a time where all the information you need to do just about anything is available for free online.