Would we theoretically be able to refi a second time, this time as an investment property, and eat any out of pocket cost?

Anything with a HOA or condo fees will eat into your costs.As for buying less expensive homes, there is a balance between quantity and quality.

This amount would easily cover my expenses for my family of three while I continue to live overseas and take advantage of low cost of living or come home if I like.It feels like having my cake and eating it too, as I could potentially have a cashflowing asset, with renters building equity for me while also increasing my net worth.

Going to eat and visiting new places brings me so much joy, and parks so let me know! 

Tenant decides to go stay at a hotel and eat out at Bdubs.Now he's asking for reimbursement for that, and it was due to the situation that he was displaced.

This is called a cash out refi, even though you are not refinancing, you are just financing.I would not go turn key either, just eats into your margin.

If anything my airbnbs strengthen my community as my average stay is 2.3 days and no one cooks they all eat at local joints. 

These things can change the risk profile of the investment and it's important that you understand them and make a conscious decision as to whether those added risks are acceptable.  

I'd just really love to come across somebody that would let me join them in some of their smaller deals so I can get a feel for it and potentially gain a bit of capital on it as well, so that it generates income while I learn, rather than eats away at capital. 

Further, rising vaccination rates gave Americans more freedom to venture out to eat, attend a game, travel or engage in other activities they would have avoided at the height of the pandemic.