fenced back yard and built a 12' X 16' storage bld.

Loan / investing approach question:Existing primary residence (3br/2ba 1600 sq ft with a pool) is currently on 15 yr conventional with approx 60% equity.

“I gotta jump into this pool quick!”

Or The back yard needing some TLC?

Your able to ride your boat and jet skis in your back yard conveniently located off the interstate five here in Rogue River Oregon.

Why are you putting one toe in the Property Management pool & another in the self managed pool?

IE dog food, dog hair on the couches, backyard looks like a dog lives there, or anything else such as your hard wood floors are showing damage I would send a 3 day quit letter and start evicting them if they don’t dump the dog.  

It's based on a lot of factors, such as amenities offered (i.e. fitness center, clubhouse, swimming pool, etc); costs to operate/maintain common areas (i.e. landscaping, electricity for common light fixtures, gates, repairs to roadways, parking lots, etc); cost of any insurance that's required; size and age of the property and infrastructure; planning for future capex projects for the property; etc.  

We updated all the appliances, renovated a bathroom, added new landscaping, repainted the interior, added new floors and carpet throughout the house, added a paved patio in the backyard, and replaced the A/C unit.

The house was very well constructed and taken care of with many recent updates (electrical is in working order, comm system from shed to house, the lot from street to backyard is about 300 feet, newer huge HVAC unit).