How has tenant communication and compliance been?

You'll have to defend that you did everything correctly.  

I've had my contractor pour a leveling liquid over sections of floor and then run LVP or carpet overtop to correct for a few inches (1-3 inches) in drop in a room or two.

Buy quality home or property maintain it correctly treat your tenants by the laws of the jurisdiction and have decent insurance..

And also, since I am the borrower, am I correct in my understanding that I would be subject to a tax on cancellation of debt which would lower my total IRR.I saw many years ago (like in 2017) on BP that note investors were shooting for 10-12% IRR in a zero-interest rate environement. 

How fast do you expect communication?

I suspect poor communication was a reason that such a low percentage of people who paid $300 atrended (in San Diego I attended the STR workshop and room was full - this syndication workshop we sat around one table).I have heard Codie present and she is as good as you indicate but not an RE person. one of her lines is something like there are a lot of millionaire RE investors but not a lot of billionaire RE investors and I want to be a billionaire.  

Rental income is about 4800/monthly....David,If I'm understanding you correctly, a DSCR loan could be a fantastic and elegant solution for this creative financing situation.

They will help you draft the necessary legal documents, such as master deeds, rules, and regulations, and ensure everything is filed correctly at the registry of deeds.

You're correct that the Clark/Fulton area is a bit rougher and is known for having a higher concentration of Section 8 housing.