@Stuart Udis my thought was to spread the risk is why to partner.

There marketed value proposition is about FULL-SERVICE at _____ pricing.

However, it seems risky to own a property that you would barely break even on each month in the case of an unexpected emergency.

Scaling is fun but the more you add the bigger the risk is.

The point is you do not need a HELOC.As far as having $5000 in a bank account being more risky than a $50K credit line on a HELOC, call the Dave Ramsey Show and ask him.

I think the risk is exactly the same as all tenants. 

Again PMI offers the lower rate because its less risky and offers insurance to the bank.So when you sell your current home try and keep as much as possible and avoid an "All Cash" offer.

There are risks relying on a single OTA; too risky for my liking.   

Cost of doing business.Next time maybe you could have someone do a video walk-through for you.OOS is risky as heck.....

However as you correctly point out this is far more risky and or its risk capital compared to buying a income property.. but the reward can be strati-spherically higher .. not just a little bit but it can be life changing profits on some of these deals.