Ultimately, I'd be paying a down payment for a home, which then commits me to paying a mortgage when I could use that same money to buy another rental property that makes me a ton of cash. 

Totally depends on goals, time commitment, and funds available for investment.  

Then I was sent an Official Approval Commitment Letter with the exact terms Which were acceptable to us, for this deal.

Remain committed to your long-term objectives and be ready to overcome any obstacles that may come your way.Make the most of your special abilities and resources, such as your capacity for problem-solving, risk assessment, and collaboration, and approach each investment with a strategic attitude.

After talking to some, I find that they often don't want to commit to longer stays until they've been there and decided if they like it so having the ability to rent month to month gives them the security to try it out.

In Broward each sale symbolizes more than a transaction; it reflects the enduring charm of the community.The total dollar volume of transactions – a reflection of ambition – reached a $364,661,254 showcasing a notable 7.5% surge that echoes the fulfillment of dreams.Amidst all this activity Browards townhome and condo market remained resilient with sellers receiving 95% of their listing price – underscoring their commitment to delivering excellenceTime seemed to move in sync with Browards rhythm.

If you can commit to FB/CL and cold calling, do it. 

We’re committed to light grey in 20 units so we’ll stick with it until it comes back in again next year;) You also want different sheens for walls, trim, and ceilings.

Thanks for the info, that is useful ...I'm beginning to think that, for my purposes, it probably makes more sense to just stay in my lane (LTR), but it's useful to know what the MTR time/effort commitment would be if I ever decide to try it out... 

Real estate investment is a field where you may succeed if you are committed and persistent.