If its a major health and or safety item with potential liability you may want to stick with a professional from start to finish.

Have you looked at ways to improve safety.

I had to replace it because it's a safety hazard, and she agreed to pay for it incrementally over time, but it's going to take me 3 years to recoup that cost.

Landlords are so short-sighted when it comes to hiring property management companies and always mention some variation of, "but 8% seems a lot..." nearsightedness.How much do you really know about the following:1) Fair Housing laws2) Fair Credit Reporting Act3) Consumer Privacy Protection laws4) Local rental ordinances5) State eviction laws and procedures6) Etc...Everyone thinks property management is easy until something goes wrong...Aloha,And don't forget, EPA, OSHA, Zoning and Land Use Ordinances, Life Safety Code (NFPA 101), HOA properties, Insurance (property, liability, flood, cyber defense, worker's comp, and others). 

One of the best points of real estate is you can buy using high leverage and still do it with relative safety. 

It it wasn't in the house rules or additional info then you can reach out to Airbnb trust and safety team and they would cancel free of penalty - I know this from experience as a host (actually I manage several Airbnb properties and have quite a lot of experience) That being said I would recommend as Lucas Carl mentioned to keep an open mind and not go hard on the review, they are very damaging.

I don’t know man, I love long term holds and equity pay down but even 500/mo—which is great—isn’t going to equal the TAX EXEMPT sale of your condo for 20 years, never mind assessments, tax increases etc.Feels like getting a chunk of cash in an environment where a savings account gets you 5% (coincidentally about the same 6K a year) gives you a lot more investment options, increases your safety net, and makes your life less stressful at a time where that’s valuable.

Hey @Jonathan Rouse, I use AirDNA for my projections as I've found their numbers to be pretty accurate, but then I always analyze the deal based on 80% of the projected income from AirDNA to figure out my margin of safety and if I can still cover my costs.

I think certain things, like the safety of my assets, be left to a professional.

Likely something I’m missing in my analysis  The benefits of $40k equity that I’m aware of are:1) it’s your “margin of safety” to where if/when you sell you don’t lose money (the #1 and #2 rules of investing are don’t lose your nest egg)2) if you refi down the road to pull cash out, that’s more money you can pull out3) that’s more $ to your bottom line when you sell if you profit 4) some people say “you make your money when you buy”.