Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

How do you approach educating people on the realities of the business? 

The biggest mistake I see out of state investors make is relying on others too much for direction and guidance instead of doing their own due diligence and building their own team that they actually meet and interviewRelying on one person who alleges that they have a 'team' built already that you can use as well can be a costly mistake.

This approach has not only improved our operational efficiency but also helped us stay on top of opportunities without getting bogged down by the details.Have any of you tried alternative strategies or found other methods that work even better?

It sounds like this is their personal residence.

Your personal loan has a 5 year balloon period.  

Going DIY and self-managing this type of asset from another state may not be an easy task for such a building and neighborhood, it needs more attention (and probably capital).Try an unconventional approach.

I have personally worked with @Wale Lawal and he is awesome. 

Perhaps there is a relevant book or podcast that you could suggest to expand my knowledge in this area.Considering you're experience with creative finance deals, which you mentioned previously, I am keen to hear about your personal insights and experiences.

I typically don't comment on other's businesses unless I know from personal experience.