If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Congrats on achieving a comfortable financial situation.Condos are actually riskier than single family rentals. 

Quote from @Josh Lansberry: You will hear a lot of people bad-mouth him, but Dave Ramsey can teach you how to get financially savvy real quick.

They will do magic for your financial situation.  

It is our goal to provide all the tools, resources, education & coaching any individual needs to learn how to build a sustainable investment portfolio to achieve financial independence & generational wealth through real estate investing.It should be noted, that while the Academy is not a requirement to invest with RTR, the individuals that do join the Academy are much more successful long term since they have spent time to clearly develop their own individual investment strategy & plan!

The FBI’s Financial Crimes Unit investigates these matters for filing of charges on Equity Skimming violations.

Even if I were to rent it out on Airbnb, the cash-on-cash return isn't very attractive.Specifically, I’m concerned about:High mortgage payments and the financial strain it could cause if the property doesn't generate sufficient cash flow.Cash-on-cash return is low, even with high-revenue short-term rentals.My Questions:Risk Mitigation:Any strategies I can use to mitigate the risks associated with owning a high-value property with a large mortgage?

I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Just make sure the numbers work for repayment and your overall financial goals.