Sometimes life happens faster than you think (weddings, job changes, market shifts), so it helps to know your break even point in case you need to move on sooner rather than later.

The rent from the other units will allow your to purchase a more expensive property than you could on your own, which could help you build the value of your portfolio (and equity) faster. 

It is much faster than sanding. 

And you can definitely pay off your home faster if you focus on running all of your expenses through it and watch your expenses. 

Depending how much of the neighborhood is a hot zone for renting rather buying, and which Property type is performing better than the other (meaning 1bd 1ba 2 floor renting out faster and much more consistently than a 2bd 1ba 1 floor), you can make your choice of those factors as well as other ones that impact your decision for what you wanna do with your investment.

Focus on the big moves: security, renovations, and cutting dead weight. 

@MIchael McCUe   I get it, it feels like an incredible weight that you could easily lift with bankruptcy.

If you are a hard-worker, feel free to send me a PM, I might have know someone looking for a faster learner I can introduce you to. 

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.

Ask for its breed, weight, and name, and have them attach a picture.- Make the application part of the lease, with the stipulation that if they've lied in the application or in the lease, they can be evicted.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.