So, this is not about evading risk but to keep my business and personal dealings separate.Thoughts? 

If I'd know that I'd be paying it for the life of the loan I would have been better off paying the extra 5% down payment and enjoyed the lower interest rate but I don't recall ever being informed of that or reading it anywhere in my documents.

But imagine you don't pay cash but rather borrow so your 5k cash/closing-down payment to buy a 100k STR, then in year 1 it rises 2k - only a paltry 2%, but you make a 40% profit as you are levered 20:1, and that beats the best year for stocks ever. 

Like do some cleaning job, contacting maintenance people, knowing how to pay water bills etc. these are all the basic work when you become a landlord and you need to know how to manage your property first.

@Alex Perez  aside from the advice you received already pay attention and get a good fabric on your furniture.

Now you need to figure out how to find deals and pay for them.

The plan is to Refinance after a year, applying what is pulled out, back to the mostgage to pay it off as quick as posble.

Just remember selling it quickly means you pay taxes on the property.

They are yet to pay the deposit.

If they’re paying 85% cash, like from a 1031 exchange you have almost zero risk and 6% is fine.