Just make sure that you have adequate liability Insurance and tell your Insurance Company that you are renting this out as a MTR/LTR/STR or whatever you end up doing.

The problem is our local government has failed to protect the public while simultaneously failing to provide adequate shelter for those living on the streets.

And make sure you have adequate reserves.That said, a lot of people got burned in the last crash by too aggressively pursuing deals like that - Personally, I sleep a lot better at night with a 25% equity cushion...

So at least 20% is considered adequate.

Liability protection for me is solely through adequate insurance coverage for each property.LLCs can lessen the tax burden because of the pass-through taxation, meaning that any income is just taxed as personal income on a Schedule D form.

If you have a roof that needs to be replaced, parking areas that need to be resurfaced, HVAC systems on life-support, etc. you'll likely have to come out of pocket as your cash-flow wouldn't have yielded adequate reserves.

Once we get through this initial push we should be adequately accruing funds for future repair needs.   

I feel like they're adequately covered but always open to others opinions. 

My two questions would be:1)  Does the investment property meet your goals/criteria (adequate cashflow, ROI, etc. whatever is important to you) with the 7% interest/20% down loan?

I have an adequate cash reserve of $12,500 or so after a down payment and can cover the mortgage without dipping into reserve if I had to.