I would advise running your rents conservatively and vet property managers properly before signing anything.

There are two items that you need to completely solve this problem for your rehabs: properly built Design Boards and a Finish Schedule.

There are a lot of good meetups for real estate investors in the area that would be good to grow your network and learn from others that are and have been in your shoes as a new investor, message me and I can share on some specific monthly meetups.Also sharing some multifamily data, this is Boston proper so it has an interesting trend compared to the rest of Massachusetts.

Finding someone with the expertise to screen and place tenants properly is rare.

Co-Living, when done properly, should be less work per lease than LTR. 

In this case, since they are borrowing their payments, these would get added to the principal balance each month, and interest would be calculated on that.If, for example, the interest rate on the note were 10%, they would implicitly be borrowing their payments at that rate.

However, the success of this approach hinges on consistent appreciation, which depends on demand.The Key Factors to ConsiderPrice Dynamics: Prices are driven by the balance between buyers and sellers.

I think your biggest issue with any "work-arounds" is going to be your legal liability and holding the proper insurance in case something goes wrong, which I'm going to assume you'd need to be properly licensed in order to be properly covered by insurance.

@Alex Houser You need more numbers and a proper inspection to justify the price. 

Again how we balance automation and the use of AI for ops streamlining with human-centered property management is key.