@Eric BoringYou have a deed restriction preventing your from using your property as a rental, but for how long? 

Otherwise, it sounds like a poor "investment" (actually a liability).Unless you are bad with money, and need your capital locked up as equity in your own home, to prevent you from spending it on frivolous things, then going with a 15 year mortgage is a bad investment decision.

Your cash flow is reduced, but you have a large sum of money that even the debt free cash flow would take forever the equal.The question should start with how much money would you get either way, at what cost per month, and would they still be cash flow positive?

Thankfully both guests didn't want to go anywhere, so I didn't have to have my 1/2 mile long driveway cleared off but I may not get that lucky next season.In addition, the recent rain that caused flooding in Wears Valley prevented anyone from getting to the cabin including my cleaner, their backup and the guests. 

There are probably local groups in your city or state huddling together to figure out how to reduce the amount of money that can be made via real estate.

We didn't have neighbors complain, but in order to prevent that from happening in the future we are either not going to allow dogs in this unit or limit it to very small ones.

The amount of distributions treated as a qualified higher education expense with respect to the qualified education loans of any individual can't exceed $10,000, reduced by the amount of distributions so treated for all prior tax years.

At best they prevent an infected person from spewing the virus out when they cough/sneeze etc..... but the virus can penetrate the mask the other way pretty easy....

Rough %s I have in my mind are 3% on capital they bring + 1% GP equity but not sure on timeframe for payouts and clauses to prevent liquidity issues during downturn given our 2/20 model. 

It is getting too wrapped up in reducing tax while not considering your business goals and maximizing cash flow.I would look for a different CPA - 24 years of experience is great, but only a handful of investors in her client load likely means she won't be as familiar with many considerations of even a small property investor.