I have a home that I bought for 600K+ about 38K closing costs, interest 2.875%, I've owned it 3 years and owe 220K on it.

So I reached out to see what is going on and the manager I first talked to said, "the $550 is the eviction cost from the lawyer."

I have a licensed low cost contractor 

I'd like to brrrr and hold long term and it don't make sense for me to do it in my market due to high cost of homes.

As is an all but universal truth in investing, there is a cost to lowering risk exposure, a cost to returns. 

One misstep could cost you significantly. 

@Jarrett James you said other investors got together and split the cost.

You are happy to take charge, but they need to pay 50%.Can the split be like 45:55 for I pay 45% of the cost and my neighbor pays 55% of the cost because it's their dog that is lunging towards the fence when it barks and therefore reducing the fence's longevity?

In essence, after two years I would have turned a $192k down payment into $284k equity (minus agent commissions and closing costs).After selling the property, my plan would be to roll this equity into other investment properties through a 1031 exchange.Questions:Is this a good opportunity? 

Another reason for potentially selling this home, is that my fiancé didn't qualify for a HELOC on this home (house is in her name), and our equity is tied up.Overall, we love these homes and would love to keep them, but holding costs here in TX are expensive.