So if the deal goes right, I get a return in the form of equity on the house, and my rent is also reduced since let's say, as part owner, I would be receiving a portion of the rent (which I would be paying...).

., I think you are fine to move on to another plumber.

If you're focused on medical travel folks, smaller 1 or 2 bed properties work fine.

Also, this would only remove the mortgage debt itself from your DTI if it was to work; you would still be hit with a liability for the annual taxes, insurance, and HOA fees (but also receive the benefit of the rental income).

And the really messed up ones, they don't even give a landlord an option, per fine print in contract, they just go out and do whatever and send a bill after the fact. 

My question is this - does Johnson City receive enough visitation to justify a successful STR?

One has paused distributions but seems like it'll be fine in the long run.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.

Receiving lots of interest and good feedback but no buyer yet.

There is fine line between the two depending on the structure and source of the capital.My preferred equity partners do quite a bit of due diligence on the sponsor as they are essentially teaming up with them to do this deal.