Just to close the loop and shout out to @Mary Ainsworth and @Shawn Parsh for your input/advise.

Quote from @Yemisi Dinkins: As a property owner, I would never sign a Master Lease because I would give up control of the property so someone else could profit from it.

I grew up in Gilbert!

With $170k to deploy you most likely will have that all in one, maybe two deals, if it doesn’t go well you could end up way worse off.That said, if there are other factors like the property is a huge pain to manage or you are worried the neighborhood may actually get worse or you know you need a new roof in a couple years, then I’d consider selling.Also, even though you said it’s not a high appreciating area, do you think 1-2% is fair?

I worked with a company that helped me set up my asset protection. 

Completely rehabbed the home from the bottom up!

So to sum it up identify the type of investor you would want to work with and depending on who you choose to work with there needs will differ.

I have family in Pacifica and there might be some local meet ups you can talk about what is holding you back.

If you are really worried about liability, get a bunch of insurance policies like an extra umbrella or beefed-up property insurance. 

Extension: Borrower may extend this note once for up to twelve (12) months.