Equity Partner BuyoutConsider an equity partner to help fund renovations in exchange for a share of the profits, reducing your risk and investment.STR seems like a solid option, but these alternative strategies give you flexibility depending on how things play out. 

LLC's are welcomed, no DTIs, and less paperwork...happy to connect.Also check out this BP article that explains how DSCRs play into BRRRRs: https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Even a typical water heat replacement would set you back signficantly.There's plenty to the puzzle that i am unaware of but with what you've outlined here i would consider passing on the property.you know you need managementyou know you need to remove at least one tenantyou know cashflow is meager after considering management.i personally wouldn't recommend a client take on the risk for such a paltry pay out out of state.Even when considering long term appreciation the average amount of headache one assumes with a property will bog you down before the long term play pays off.

Hello,A job relocation to San Francisco CA early this year is making me ponder if I should be selling my owner occupied duplex in Jersey City and buy something in Berkeley CA due to its proximity to San Francisco and has some fairly decent schools  for my kids and also UC Berkeley .The low  2.5% interest rate on the Jersey City property turned into a golden chain but I think I am done with managing tenants and property and would like to get more into an Equity play.

This property also plays a strategic role in the broader development project for the area, which includes 12 patio homes and two duplexes.

It's more capital intensive than most other markets and the pay off can be bigger.

If you want to pack and feel like the Lone Ranger, buy a ps4 and play red dead redemption.

@Catherine Curtsinger To play a little devil’s advocate I have been house hacking for 30 years.

Their goals and upcoming upcoming purchases may come into play. 

Quote from @Sebastian Bennett: It's funny because I actually had a dream of setting these up and seeing how this would play out lol