I have not purchased property via their platform but I'd also note it's few and far between to try to find any deals that pencil in the current environment.  4-5 years ago one could find good cash flow with SFR properties.

Just got off the phone with another DIY landlord looking to hire a PMC.They really didn't like our response to their question, "How long does it take you to find a tenant?"

How many weekends do you want to drive up north to find, purchase, setup and maintain an STR?

First I do find value in your expertise.  

One thing I suggest doing as you do your research as well is to find a property on AirBnB that you like. 

The Simplified REI brand (you can find it on facebook or BP) are some really good meetups.

Finding another end lender that can underwrite based off actuals would add a lot of liquidity to the space. 

My friend also owned a rental property in the same community so I figured it would do well.How did you find this deal and how did you negotiate it?

Find out what rate rents are increasing and expenses are increasing in your area and use that in your underwriting, then work out each year of ownership. 5% rate in 5 years seems ambitious.

I find condos/townhomes to be easier to manage out of state because the HOA handles a lot of the maintenance, just be aware of condo fees and find a place that is reasonable like $300-400/mo or less if you are lucky.