My state law requires a 3-day "grace period" so I charge a late fee on the 5th.

Even if a bank is paying me 5%, I know that's only for a short period time relative to my peak years left of living.  

(90% of buyers will be owner occupants who can’t/wont buy a tenant occupied home.) check with your local landlord tenant laws about notice periods, post a notice and being a witness.

Unless you already have buy & hold investors lined up make sure you have a reasonable inspection period as showing occupied properties can be a real pain unless your buyers only care about the rent & purchase price.

However there is not statutory holding period. 

The fund could essentially pay no preferred return/dividends to the LPs (Class A Members) during the holding period and then upon a Capital Transaction the GP (Class B Members) would still be entitled to receive 30% of the distributions, simply after returning the LPs initial capital contributions.

Detroit is not what most investors consider an appreciation market. 2 years of appreciation during a time period when every other market appreciated also, following decades of up and down with extra down doesn't suddenly make it an appreciation market.

I was more so saying that after a year of occupancy period, you could explore options such as a property manager to take over and you could move onto the next investment property.

It feels like this would be like asking a seller to be a HML because you'd have to offer a higher interest over a shorter period of time.

There are other DSCR lenders who require 6 months seasoning / waiting period from the last transaction. 75% LTV is a better rate compared to 80% which will increase the rate and make it harder to reach a DSCR 1 ratio.