A true levelized cost of energy (what the true price would be if it were an actual free market) gets very complicated quickly and it's basically impossible to calculate accurately due to the energy industry being so heavily manipulated by incentives from the government for so long, across all forms of energy. 

To live multiple states away and run a string of successful C-class long-distance BRRRRs anywhere in the Rust Belt is practically impossible.

Point is, (a) it's all but impossible for the investment to go to $0 and (b) you have direct, impactful CONTROL of outcome. 2nd: Back to the CONTROL aspect.

It is going to be near impossible to cash flow on a property with 100% financing, especially if that partners rates are above conventional rates.

Multiple vehicles of storing money; fixed income, equities, crypto, alt investments, real estate, etc.What avenue makes the most sense for you to get into real estate?

Remember, the most successful investors often understand and use multiple investment vehicles.

The cost to repair your vehicle, and perhaps the other person's car, will be WAY MORE than the cost of the insurance premiums you saved by not having insurance. 

In a rapidly-rising interest rate environment (such as we've recently experienced) that tradeoff may or may not pay off.Unfortunately, in CRE finance there is no perfect financing vehicle and you can't eliminate risk--you must choose which risk you want.

However, if the FHA interest rate is lower, I would still go that route and if rates drop refinance  however keep in mind FHA has PMI for life  Here you go FHA has the self sustaining requirement that requires the three non owner occupied  units to cover the entire PITI which with 3.5% or 5% down is virtually impossible with today's interest rates and price level.

It's near impossible to cash flow when most homes are selling for above $750K, Taxes and Insurance added in the PITI payment is higher than the rents.You can buy a Duplex 2 unit for example in either FL, IN, or OH and not pay more than $200K the rents are typically $1200-$1500 a door.