Continue normal duties of rent collection.

1.To extract equity in your property by re-mortgaging if you brought the property with a mortgage is normally not possible, it might be if you have extensive building improvements. 2.Getting a mortgage on a property you own 100% of is usually possible.

@Frank Pyle yeah, this is pretty normal and the type of home you use isn't of consequence. 

If your problems were really caused by an unexpected ac failure (can’t believe your realtor didn’t get seller to throw in a home warranty.) and not lifestyle.

Usually a pattern will emerge on a 'normal' deal in your area.

@Kody SmithDepending or your time, lifestyle, goals, and time to exit, the Reno, NV market is worth looking at.

We heat and keep the doors closed and don't have issues normally.

Depending on your loan it might only work in the STR game.HOA’s normally do not allow in the Oceanside area but if you get on the beach then they do with restrictions.If you want a personal consult let me know.I have a team here in Oceanside, Carlsbad.

Gunshots , dealers on the corner , break ins , trash and junk piling up , hookers , gang signs , just the normal stuff 

Normally, as @Jaycee Greene suggests, you make a management fee plus a split of cashflow with investors (oversimplified explanation).