You need to talk to a Banker or Loan officer to go over your credit and see what you have in savings.

i would do some thinking and discussing and maybe talk to some professionals before you just tossed that much liquid cash against a perfectly decent mortgage... especially with college expenses coming up!  

Here in OR we're focused on STR's and Multifamily which usually has tight inventory so it can take some time for the right property to come to market..also some of the active listings might still be available later this year and become prospects at more negotiable terms. 

It was near midnight so I turn the water off so I can talk to him in the morning.

But, I wonder if being an city-approved Airbnb host with a legit registration # is enough grounds to stand on legally if an Airbnb client reports/sues me because of, I don't know, a medical injury because of hitting their head on the short ceiling (even if I disclose info about the ceiling upfront on the listing).

I've house hacked in Utah 3 times now, and I've got a pretty good mortgage broker who can talk you through the financing if you want more clarity as well.

Also, here's a link to their CL listing as long as it'll last. https://kokomo.craigslist.org/reo/d/marion-in-3-beds/6405671804.html 

Connect with a property manager, and build a list of good contractors.

Talk with a lender about your plan and see if it's doable.

Anyone with active listings in the area care to weight in on approximate summer rental income?