What’s the backup plan if moving in with the girlfriend doesn’t work?

Well evidently there was a backup.

If her guy is backed up she needs to have someone on backup anyway. 

Not ideal, but I knew the market we were going into was going to recess a bit, so I wanted to have cash ready for acquisitions.Our plan:• Sell the home in Reno within 3 years (market should be back up by then) and capitalize on the remainder of the gains.• Our old mortgage was $1400/mo.

This is for air bnb but if it gets banned in Dallas, which they are deciding soon, will LTR work as a backup?

Worst case scenario if things change in a year and you are having trouble making payments while living there and need extra income - maybe you move in with mom to get an extra unit of income from the triplex until you can get your capital back up. 

If the comps aren't where you'd like to see them in December 2022, wait 6 months to give the market time to come back up and sell then.Also, consider raising rent on that rental you own – if your rental is in Fort Collins, you should be able to get $2K for it monthly minimum.Wish you guys the best either way, brother.

Is it where the other person is a backup for the bank to go after if there is a problem or is it that you are co-owners? 

You can only offset you're other income if you have losses from your real estate investing, but this is more of a "backup" in my opinion incase you make bad investment decisions and lose money.

I'm sure from an investment standpoint neither option is amazing, but the silver lining on renting is the idea that maybe 5 years from now prices have gone back up and I can sell for more.