With that said, I am in the position where I will not need a monthly income from my rentals.

I would slow down and think about your BUDGET, what you can get for $30k, and how you can increase your income.

And you'll have a solid W-2 income to help you qualify for loans. 

If you are purchasing a primary home, income could be a challenge if you work at an office.

In Texas, there’s no state income tax on rental income, but LLCs have formation and annual fees.This post does not create a CPA-Client relationship.

PM made a couple attempts to collect and then offered to cover the damage because toilet replacements are not that costly and continuing to pursue the damages did not make sense for them.Airbnb is supposed to cover guest damage but if they refuse to pay for guest damage their insurance has reduced value and cannot be relied upon. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Do you have other ways to decrease your expenses or increase your income aside from real estate? 

Look into a DSCR, Debt Service Coverage Ratio, loan where the rental income can be used to qualify the cash out refinance instead of your personal income.To Your Success! 

In the past, I cashed out my 401K(Paid income tax + Penalty).