I started out with a house hack, and I would say that that was definitely safe for me when I was in college as I could afford the Mortgage even if my renter didn't pay.

Since it was a structural change, you need an architect or engineer to draw up plans that make sure the new changes are safe of course. 

I realize that everyone will run a MTR business differently and I prefer to learn from different operators and develop my own technique 

Your diligence can make all the difference in ensuring safe and successful investments.

Multifamily real estate has traditionally been a stable asset class, and the Washington D.C. metro has traditionally been a stable market area, making the two together a good safe bet, especially for anyone with a long-term view of their investing strategy.

You definitely want to have the right insurance and make it as safe as possible IMO.

The honest answer is to be on the safe side, the property you're referring to: GC524550 2811 SW ARCHER RD, #V-177, GAINESVILLE, FL 32608 in the Brandywine neighborhood is one of the condos that are not in a good financial situation.

Quote from @Andrea Lucarelli: I’m interested in beginning my REI career with purchasing a SFH or condo in Cleveland area (safe neighborhood) to list as a furnished rental for travel medical professionals, supply corporate housing needs, or house temporarily displaced families for insurance companies.  

Paying cash is safe and admirable, but it totally takes away this strongest tool of real estate investing.If I asked you if you could figure out a way to earn a higher rate of return than 7%, then you should be pulling equity out and rolling it into another.

You've got to include loan pay down, appreciation, and depreciation in your return calculations.The point of cash flow is to keep you safe.