In my case it was someone who knew a friend of mine and that friend vouched for me.In my opinion it is a great way to go if you have it available.

These costs for most of the individuals are considered personal in nature (unless you have a RE portfolio that is run like a business; see below).

Ultimately, it’s about trusting your gut and assessing each situation individually.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

I'd be surprised if the complex doesn't have individually metered units so you may be able to eliminate the utility expenses unless those are for common areas like walk ways, parking lot or laundry.

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

I definitely would recommend each of them - very resourceful and of course, investor-friendly.

You want to talk to friends and family on this, I don't know anyone who would see this on the Internet and be like, yeah, this sounds like exactly what I am looking to do with my money.

I'm never in favor of government over stepping, but I can also see how desperate individuals can be taken advantage of during this tragedy. 

@Michael James Hamlin I'm a former tax accountant/business consultant turned fix n flipper and investor friendly agent.