My business partner provided the upfront cash for the down payment, and we used hard money to cover the remainder and the rehab costs.

Getting into the house and house hacking at the very least (when done correctly) puts you in a better position to save more aggressively especially if your entire housing payment is covered.

@Robert Quiroz, I know this is fairly well covered at this point, but I align with Robert...  

The part of the home you live in can be covered under an HO3 (homeowner’s) policy, but the rented unit needs to be covered by a landlord or dwelling policy like a DP1 or DP2.

I think #2 covers 90% of the work, BUT there are people whose debts are out of line with their income.

If their policy ever lapses or is canceled, they are automatically enrolled in my master policy and covered. 

Cancer/heart need to fly home.Over the course of this post will cover the following Real Estate angles. 

STR management is 20-25% (I would recommend self managing or getting a VA), since income is higher you could probably get away with 5% for maintenance / cap ex but remember you need to cover utilities and cleaning for these units which drives up costs.

The main factor is will rents cover the debt liability and can you sustain 3-4 months of no income to cover the debt? 

@Mohit Gupta  depending on number of occupants your regular insurance can cover it, read the policy, ours covers two roomers.