If you don't have a healthy amount of cash then you're adding a lot of risk to the deals you do. 

Its becomes a lifestyle.You REALLY need to be into that "lifestyle" since I believe your rate is higher. 

A healthy dose of skepticism is good, but usually they want you to have the best experience possible.

If he has the income to support a $550k mortgage, and a healthy cash reserve fund, he should invest the money.

Everyone's situation is going to be personal, so take any and all advice you get here with a grain of salt and weigh your options on what best hits your goals and lifestyle.

That depends on how many units are in your MF, what your longer term goals are and what kind of lifestyle you want.If there are a lot of units or you plan to have a lot of units in the future then invest in setting up good systems now.

It’s all about balance and what works best for you and your fiancé's lifestyle.

But, I would still look into STR management or seeing if MTR can fit your desired lifestyle.

Quote from @Lizie Pilicy: I'm considering investing with Kris Krohn and stumbled on a few BP threads.I'm curious to know anyone who actually has experience with Kris could chime in with reports of ROI, etc. and if investments are still healthy and doing well? 

Expediting the depreciation with a cost segregation study can add a healthy amount of cash flow in the first year to 5 years when you need it most.