He told me that he had found it much more useful to save the extra money for repairs, emergencies, or future investment.

My view is that the extra income from STRs/MTRs basically compensates for the extra effort.  

Buyers if you want an extra advantage over other buyers call your favorite Mortgage Banker and ask for a "Fully Underwritten" approval not just a Pre-approval.

Given your proximity to Detroit, I would be giving that a hard look.I speak with a lot of folks in Toronto entering the market there.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

This but taking it a step extra: If you own a business in an S corp, having a C corp as a management company to do solo 401k and hold cash for any retained earnings needs can be a perfect addition to those who have SBA debt and want to pay it off quickly.

I bought a primary residence last October that I planned on renting out come this October (next month) and would love some advice from more experienced folks on my next steps, because I came up with a few options. 

Hey Harish, I do a ton of stuff in the Detroit market both for myself and with other investors.If turnkey is your thing, definitely interview some folks.

Asking for a mentor can put unrealistic expectations on folks. 

I'm currently in the process of learning as much as I can about real estate investing (watching content, readings books, chatting with folks around me that invest in real estate).