In short, he seemd like a "regular Joe" and he had this laid-back style about him and he explained property ownership in simple terms (I was 24 at the time) for me to understand. 

I would also qualify it on no damages that exceed the security deposit.Hopefully you have detailed pictures before renting, and is a good reason for regular inspections to check that HVAC and other equipment is functioning properly, and allows inspection for damage from leaking roofs, etc., as well as tenant damage.

Do people regularly invest in properties they can’t afford the mortgage of with full vacancy?

Living on-site will have you being interrupted with door knocks on a regular basis.Now, if your PM is mediocre or worse, plan on doing a lot of learning or find a better one.   

Would be happy to connect as I regularly travel through South Bend

Loving BP and will be more regular here once I get going, whenever that will be. 

In a real world example, a guest got severely injured and the regular $100,000 coverage on the policy was not enough so the umbrella picked up the rest.

Several that I know meet regularly are those hosted by Bobby Sharma (usually meets on the peninsula if not virtually), Neal Bawa (mostly virtual these days), Lori Greymont (SJREI in San Jose) and Bay Area Wealth Builders (they meet in the north bay).

If you decide not to do a DSCR loan, the second home loan is a popular option, but there are lots of drawbacks for investors as it is really a product made for regular home buyers.

Personally can't stand regular office I do not care how cheap it is UNLESS it is sitting on valuable land and I figure in existing building demo costs to re-adapt the dirt to a higher and better use than it becomes appealing.