When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%. 

It's properly leveraging (not over leveraging) the asset that pays off.  

And I would love some passive income or at least someone to pay my mortgage until we can pay it off maybe.

Quote from @Jeffrey Duck: I see no reason to pay an attorney for this, but it's your dime.The current lease was between you and Person B.

I noticed that the previous owner let them pay half the security deposit and the other half later, which is a red flag.

I know they say you get what you pay for but I am impressed with this STR PM, and I use Steesa and Innago. 

If your situation hasn't changed much, it might not be worth paying more for premier.

You will be paying 6-10% for just having them collect rent. 

Use tools like:Airbnb Analytics: Monitor impressions, clicks, and overall CTR.IntelliHost: Analyze your listing for category placement and CTR improvements.RankBreeze: Track your listing's performance and ranking changes.You can also A/B test your photos by rotating lead images or running Meta Ads (Facebook/Instagram) or Google Ads to measure which photo drives the most engagement.The Airbnb algorithm is continuously evolving and every host should pay attention as new features are rolled out. 

My goal is to offer an affordable monthly payment that competes with renting a comparable property and offers a benefit to paying a bit more to "own".