My long term tenant/friend (at this point) moved with us and stayed until our second boy was born.My wife and I both work, so I'm looking for a little more hands off approach. 

This is for a note in second position for a property I have a lease option on.

They financed as a second home and are goi v to use the detached/studio for themselves and AirBnB.

We keep hoping for contractors we'd like to use again after their first or second job.

@Neal DanielsGot it, Outside of your Gf do you want to house hack beyond that, meaning do you plan on looking at 2 bedrooms and renting out the second bedroom to someone else?

I really like refinancing a loan to buy a second property. 

In 2016, 700,000 people visited Marathon, only second to Key West which had 1M.  2018 data will be out soon.  

Second your tenant will be able to refinance at the balloon a lot easier than they will be able to go get a mortgage at the end of the lease option.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

Also, you could consider a second opinion from Beryl Engineering.