Going DIY and self-managing this type of asset from another state may not be an easy task for such a building and neighborhood, it needs more attention (and probably capital).Try an unconventional approach.

Quote from @Robert Medina:  I’m trying to figure out how I can pay myself and buy another property. ...

Talk to accountants before trying this.

We are trying to not use our retirement funds.

I’m trying to figure the best way to structure the deal (equity, yearly dividends on cash flow, etc).

I can add some insight and if you search around on other forums hear you’ll find the same …While investment wise it may be good please do your background on which wolves your trying to den with . 

Let me know what kind of deals you have going and I can try to piece together some scenarios for you. 

Try Bungalow, Cohere Network, Dreamhouse, Padsplit, Roomster, SpareRoom, Tripalink, etc.

It sounds like you're trying to do right by your other tenants while also being fair to this one, but it’s clear the situation can’t continue.First, it’s great that you’ve already put quiet hours in place and handed out notices—smart move!

Take good notes, ask good questions and then, and only then, after you have completed a transaction and feel confident, should you ever try and venture off on your own.Think of it like this...... you can drive without car insurance.