Owning a home also gives you stability (ie your landlord can't decide to sell your home), flexibility to do what you want to with the home and the money you are paying is paying down your mortgage, not your landlord's.One other question is do you plan on moving anytime soon? 

In two years I plan to pull equity from my home, rent it out, and purchase another to live in for two years..

Do you meet with us routinely to be proactive and do planning?

I would be planning to do some things before actually making an investment.

You should have a ton of demand for co-living in that area, particularly if you're on a busline.If you plan to sell anytime in the near future - I'd advise against putting a tenant in there well under market on a long term lease.

We are not putting up capital, just handling all development/build planning and operations.

This can potentially lead to problems and the safety of the others in the home.I am planning on speaking with him about the lease violations and switching him from yearly to monthly with an increase in rent, due to the increased labor of the cat and the checks in of the cleanliness of the room. 

My current plan is to stabilize this rental and aim to buy one property a year. what do you guys think of this deal and strategy?

I’m in a small financial bind right now and I could use the $300 back, especially since I’m not really planning on using the pro features any time soon. 

For the community development dept, you'll need proper plans (architect), site survey, permits, etc. when you're ready.