I have also been doing quite a bit of research on Loan's, tax consequences etc., and am working towards being a expert in this niche.  

We financed this deal using a residential VA Loan.

If you would like to hold the property for longer, that is fine as well, just note that your loan payment will be done after 20 years.

Non conventional just means the loan will not be sold to Fannie/Freddie so they do not have to follow those rules.

Placed another 8 unit portfolio under contract in early March, unfortunately contract expired on April 23rd, couldn't secure favorable loan terms that wouldn't allow portfolio to meet cash flow numbers because banks changed lending practices due to Coronavirus pandemic.

@Joel Oh- if you are using a loan to acquire the property - the lender  requires  insurance ....if you own the property  free and  clear - your  choice  but I would still  recommend  insurance 

As they see their money is safe and you're succeeding with your plans, they'll usually ask to increase the amount of money they loan to you.

The most important thing is to ensure your loan is covered in the event of a loss.  

I've never done any Sacramento STR loans and only been hit up for one potential financing opportunity there.

When I asked for a loan, they asked if my business received money in Euros.