@Chris Clarkson, having a partner can complicate things for sure if you're not united on direction. 

As the new owner, you’ll want the lease and your landlord insurance policy to take effect as soon as you take title to the property.Temporary Lease Considerations:While short-term leases can work well, leasing to a seller long-term often leads to complications.

The more you provide, the more complicated it gets for your cleaner or whoever manages quality review.

Renting to a friend can complicate things, especially if you're starting below market rent.

So I am less concerned with that one at least for the time.I enjoy researching many things and solving complicated problems, but figuring this out has not been one of them.

Unfortunately, it's now going to get more complicated:(There are two types of approaches PMCs use to bill for maintenance:1) In-house ServiceTechs on the payroll, so owners are billed for their time by the hour.While the labor charges above are useful, they don't cover the true costs a PMC incurs, like:- Payroll costs for FICA, Social Security, Medicare, etc. that typically add 25-40% to the hourly rate- Medical insurance costs for the worker- Payroll processing costs to handle all of the above- Liability insurance costs in case worker damages something or injures someone- Workman's Compensation insurance- Costs of vehicles and tools- and more...Typically the management contract will disclose the total hourly rate an owner will be charged.

The rules are pretty complicated and the only people who really know all the terms and rules thoroughly are the Rent Levelling Board.Caveating that I’m not an attorney so go seek your own advice but I clarified a few things at a recent rent levelling hearing (which are open to the public and you can find the schedules with a simple Google).

Reverse 1031 Exchanges are more complicated and have higher costs, but can solve these problems. 

Our life is complicated and I work a complicated stressful job, but if we’re being honest, I also don’t have time for renters, but I somehow make it work and I personally think it pays off.Mtg: 1800Rent: 2900Owe: 200Rate: 4.5 I thinkSell Price: est. 450-460No other rentals except an in law suite on our current primaryFuture goals: would love to use this properly to buy other properties to get out of the corporate rat race. 

There are more complicated strategies to maximize larger listings that involve having like multiple listings for same property and do individual room rentals when it is slower and then for larger length stays, larger groups, and more desirable dates you'd book the whole space, but I think its easier to just do two separate.