85LTV ask on a LTR rental is a tough ask, when adding an STR factor, nearly every lender will reduce max leverage by 5%. 

In reality, the insurance payout reduces the adjusted basis.

That's just wasting time and energy right now. 

The owners refused my advice to reduce price and they both sat vacant for months.

Have you considered creative financing options like joint ventures or seller financing to reduce reliance on outside capital?

Found T&H realty services to be pretty interesting as they provide both buyer brokerage service (to help me find deals) as well as do property management i.e. they are not full turnkey provider necessarily, but reduces some of the hassle for me I guess as an out of state investor. 

Are you able to reduce your expenses quickly and easily if needed?

I like this idea because it reduces the potential vacancy I could have by doing a short 3- to 4-month lease that ends in April or May, then starting over with a year lease.

You can also split the difference by looking at the historic energy usage for the property and setting that as a utility 'cap.'

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?