I'm glad the community was able to help you make a stronger lease to avoid issues later in your investing career and that everything worked out for this situation.

Multi-family properties are a much stronger investment in Tampa compared to condos, especially because of the headaches with condo HOA fees—out of the 3,500 transactions I’ve done over the past 20 years, the only long-term losses I’ve had were with condos.

Look at the credit card debt and interest rates and pay some of that off (assuming your personal credit rating is tied to the business).

Personally, if I were younger and not tied to anything (kids/schools/jobs), I would house hack over and over and over. 

The property is in Pell City, AL and I was able to find this is a non-judicial state and potentially would not be tied up as much unlike a judicial process since it’s not going through the courts.ThanksDaria 

Meanwhile these same service providers don't explain the legal process which ties into how the insurance coverage truly works let alone explain how to utilize additional insured status, indemnification clauses amongst many other tools at your disposal  because that is not a profitable business for these service providers to be in.

The money is tied up in the syndication and very illiquid, but it requires no work from you after the initial vetting. 

After a quick search though, it looks like you would partner with a wholesaler and bring the earnest money that ties up the deal until they found an end buyer.

Pros: diversification, stronger local economies in other metros/states, better price points and variety of products. 

For rental income, you can tie it to leases, which are legal documents.