We intend to underwrite this to ensure we would be profitable with long-term tenants at a minimum, with MTR being our preferred cash-flowing strategy.Before we do anything, this will be a lengthy paper/spreadsheet drill to make sure the numbers work. 

Do realize that property managers must have separate financial licenses and bonding in almost every state and being a Realtor who does “property management” provides zero protections for you. 6, Do realize that living in one state and renting in another can under certain circumstances require you to answer litigation and issues brought in Federal Court and all of the end user agreements with every online service or local Realtor property management contracts will leave you alone and swinging in the wind. 7.

The insurance isn't a performance bond, it doesn't guarantee the job gets done to your satisfaction. 

No doubt if the borrower is not paying the HOA they will not paying the first mortgage and in this market of severely underwater homes that is their bond to break.

A corporate junk bond is high risk so it has a yield of say 10-12% right now.

So, the length is not really predictable...but there are unique options that will give you more control over this, like Cantor Fitzgerald has some 721's , and then there is a secondary market that Inland Capital has..I think it is them.. 

When he does find a minor item, no title insurance policy, bonded attorney opinion, or warranty is going to satisfy him.

Goal: to have enough to retire by age 50 from cash flow from rentals, stocks/bonds portfolio.

Totally agree with you $1mm investment versus $1mm investment I would rather do stock bonds. 

Dont suppose I'll get it...again, i've never done a real estate deal other than purchasing my house over a decade ago. without experience there's just so much i dont know.networking is a sore spot, i'm just not a people person. thats one reason i look at real estate. since i plan to have any properties managed, i wont have to deal with a lot of people. i imagine you'll scold me for this but whatever. i'm never going to be a people person and thats set in stone. it's something i have to work around not overcome.It seems I always get to the same point with real estate where I take the safe and easy route and leave my $ invested in the stock market. the thing that appeals to me about re, and i'm more focusing on rentals, non b&b, is steady income with an appreciating underlying asset. whereas the market is up and down. i can get totally safe 5% from short term bonds, but i know my principle is withering away from inflation (i dont believe the gubt bogus 3% cpi). with a rental house i could get 5% rental income, and the house will appreciate ~5% a year. that's a huge difference. the other thing i'm somewhat interested in is flips, but same story there, i just dont have the knowledge, and all the reading this forum or watching yt's in the world only gets to the surface as it's all airy generalities.