My underwriting numbers are as follows:Purchase Price: $600,000INCOME:Gross Income: $94,032Vacancy: 5% (property has historically maintained strong occupancy).

Like the others have mentioned, one problem with being an absentee landlord is showings and moving tenants in and out.Other aspects like marketing, tenant screening and rent collection can be done pretty effectively remotely.The properties I own near me I manage.  

I do know that developers are very focused on the I-10/1604 area right now, which is just south of Leon Valley.Building Classes...very short descriptions:A: top-quality building, getting the highest rents, very well-maintained, best locationsB: One-step below "A".

It is very similar to stainless steel but better to maintain (no finger print residue, easy toclean and always looks nice)

So issue is essentially what you were asking access that equity other than selling it and "how to" measure the refi fees & cash in hand vs effect to cash flow & refi fees.I have seen a couple posts asking about using HELOC loans which I guess have less fees but just started researching those but I guess they are lower LTV so might not offer access to as much cash.I guess it all depends on goals and what you want to accomplish...

I would appreciate feedback from investors who has used this medium and the effectiveness of this marketing technique. 

Is it more cost effective to just have a PM take care of this or do they generally charge a premium?

There are costs for maintaining the trusts and there are formalities to be followed.Having General Liability insurance also protects your assets as in the case of a lawsuit you may be defended at the cost of the insurance company and they may also pay all or a big portion if you lose.

If theres even a possibility that a bad deal could have a significant negative effect on your family's situation then you have to pass on the deal.

You can still maintain an open feel, while also not doing something that would be too non-standard for a typical single family home (again, unless that's what you're going for).For reference, we did a house many years ago with an almost identical kitchen/lower-level floor-plan, and this is how the standard wood railing looked: