Wealth is built over time and the longer you defer the later you will have wealth.

Then I'd be able to refinance later on and increase the equity?

You could then repurchase and establish a higher basis, so you are not paying taxes on that piece of gain later. 

So I spent the next few years learning, and reading, and improving my credit, and paying off debts, and increasing my income, and eventually, years later, I bought a house!

@Greg Seivert you are not doing a brrrr you are doing a br and later maybe if the market goes up a rr.

I am trying to decide what is easier and makes more sense between these two: Get spun up on laying tiles and fitting that in my busy life, or deal with the draining experience of getting a contractor to show up, give an estimate, then appear weeks or months later, do an honest job, stick to it and finish on time. 😀 

My biggest regret is not keeping most of them.My recommendation is to keep as many as you can, as long as they are cash flowing.You'll thank me later.

Or do you discuss that later with the applicants?

It was a bit of a stretch at the time but 8 years later and I'm glad I did.  

In Mid 2021, I read about the Short-Term Rental Business model, and I loved it and so I put a house under contract and closed later in the year.