If so, I'd 1) join a real estate investing mastermind that focuses on your asset class of choice (multifamily, industrial, storage, etc.) and learn as much as I could - it's worth the $10k-$20k in both knowledge and connections.

Which leads me to my final point, but not numbered.If I was you, I'd sell this property and 1031 into a non-HOA property that is attractive to own and fits #3 profile-- 1.25 DSCR + healthy reserves.

It’s not a binary on/off choice.

Mostly people with minimal RE experience are adding a single ADU and they often make that choice based on cash flow without taking into account the negative equity position.  

Note: This could happen NOT by your choice with a layoff.

This can be very expensive and is usually the worst choice because you can't justify the cost.2.

There are more details here if interested.I will not tell anyone to do or not to, that is a choice that you will have to make and also it is a choice to work it or not, like any system.

You all have great points and I am excited to be finally getting started to learn what works best for me.

So, an area might have been D class 20 years ago and is C class today in terms of what the property condition, crime etc show you BUT if the tenants still stigmatize the area in their mind then mostly D class tenants will be applying there because they have less choices.

We do recommend making sure all your data is accurate before finalizing your report.