In any event, it all seems good enough that I’d feel comfortable moving forward once you get positive landlord references. 

I wanted your opinion if you would feel comfortable  renting 2 rooms to 2 individuals during the Covid-19 pandemic ?  

Be concerned with cash reserves and percentage of leverage you are comfortable with. 

I agree there are some risks and also dilution in cashflow because of HOA , but these are class A areas with around 7-8% cap rates - so as a part of a broader portfolio, I felt comfortable with a 30% mix of such investments.

Most of mine are in the 11-12% cap rate, these just make me a lot more comfortable.

Personally I would not take much comfort in second position. 

I think in that situation, rather than pay what I view as nothing short of extortion, that I would buckle down, get comfortable with the eviction process, evict, sue them for the rent and any damages owed, and draw a hard line as appropriate in all other areas of dealing with them.

Learn how rentals work with this first investment, DIY as much of your own maintenance and property management as you feel comfortable with, get your feet properly wet and your hands property dirty. 

The new bigger house we would hack, and we'd essentially keep our current comfort/lifestyle while covering a good portion of our mortgage with renters. 

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