From what I understand, equity on a property is the amount of money a property is worth minus the amount of money owed on the mortgage on the property.At least one article has said that the principal remaining on the mortgage is the only component of the mortgage that is accounted for when determining the amount of money owed on the property’s mortgage when calculating the equity one has on a property.I am not sold on just factoring a mortgage’s principal into the amount owed on a mortgage because if interest is also owed on the mortgage for the property, the interest should be accounted for in determining the amount of money owed on a mortgage, correct?

Fridges are rarely worth repairing.

Its clear that we will need to find a way to increase the occupancy rate, to be able to make profit.

It is also going to increase the amount you are paying every month in mortgage payments (aside from the PMI). 

Just wondering if property owners here retain property tax consultants or attorneys to help fight increased assessments, classification changes, or other issues with their property?

Is it worth the risk if (a) the tenant is non-compliant and an eviction process is needed and/or (b) there could be major repairs needed. 

Short term rentals impose costs on the local community (parking, noise, increased demands on infrastructure), so regulation is completely justified.

Also, if the sponsor is new, I am fine with less skin in the game as long as it is significant to their net worth.

I am a long term investor (hold or perpetuity) so I am confident over time cash flow will slowly increase as will appreciation.

If you think there's a deal worth pursuing, it's generally a good idea to buy.