Perhaps my post implied I was looking for a purely transactional type of relationship, which I actually want to avoid.

Hold: $175 per month is pure cash flowWhich would you do? 

If you are renting to a fraternity that is notorious for on campus drinking violations, that is a red flag.

I’m drinking from a fire hose right now, going to take some time to find my feet.

Personally, I would look for national or larger lenders since the experience and diversity of lending options will usually be in your benefit instead of shopping local lenders to Denver metro area who may not have the same level of experience purely based on the limited market they service. 

Growing a rental business requires funds and pure cash-flow (after expenses).

It is the wild west with very high risk and even higher returns and I'm investing with a mix of pure speculation and dedicated research into each project and how competent the management team is and what problems they are solving in the world.

@Cherie Tormey, Accessing that equity is important in order to grow your portfolio and your return on investment.  1300/mo on $300K of equity is good in terms of pure numbers. 

This allows you to increase the value of your building without the emotional rollercoaster of the SF market that is based purely on emotional demand. 

I would check with your CPA but I would imagine you can write it off as a business expense if its purely a rental.