If you added in the cash you should have to protect against contingencies, the actual return goes down (or the risk sykrockets, your choice)- If the $300K properties cashflow, definitely a better bet. 

You’re building something that can appreciate over time, something that might look a whole lot better than a stagnant savings account when you’re eyeing your next move.

Airbnb offers $3M damage protection insurance (AirCover) if guests don't pay for the damages they cause, and $1M liability insurance if a guest gets hurt or their belongings are stolen.That being said, I too do not allow instant booking or most last-minute long-term bookings out of nowhere.

Be flexible and keep an eye out for opportunities, as they often come when you least expect them.

Quote from @Scott Tennell: For real estate investors who have worked with private money lenders, what strategies have you found most effective in structuring deals to ensure both parties are protected and the funding process runs smoothly? 

Quote from @Jaša Rot: Hi guys,my name is Jaša and i have recently read a book about banking that opened not only my eyes regarding financing but my whole brain...

Keep your first deal simple, and don’t be afraid to reach out if you need help or want a second set of eyes on a deal!

what about columbia is catching your eye?

The tenants in the 3 bedroom rental aren't in a protected class but I do not want to get in any kind of legal bind. 

Market Conditions Keep a close eye on the market, both locally and in terms of refinancing opportunities.