I expressed concern that doing so might cause the original mortgagee to be notified but I wasn't sure.

A little risk and the saved money likely outperforms the difference in the cash flow.the primary rationale that I agree with for lower leverage is if the leverage causes stress in your life.  

Where it is now could cause issues.You should change the listing to reflect that is is a studio and not a one bedroom. 

If a bad one slips through,  I get rid of them quickly.5) I got rid of stoves after one of the residents caused a stove fire. 

Never did it again, for good cause. 

Hit anything can cause damage,   I currently have two smaller towable boats.  

But if this would pull focus from family, there’s no harm locking in a solid long-term tenant this winter and revisiting the MTR idea next year — especially since you’ll still own a great unit near a hospital when you’re ready.5.

They collected management fees for vetting members and facilitating payments, but when their vetted members caused over $9,000 in severe damages (including biohazards), PadSplit claimed they are 'just a marketplace' and refused to reimburse me.

I’m curious how others think about it — what usually causes you to walk away from a deal that still pencils on paper? 

It will cost a few more dollars in prevention, but it will save many, many dollars in cure.For the record, the tenant should be held responsible for maintenance issues they caused.