Pro: you have a source of $ available to use to invest & earn you more $ (hopefully).

Lacy equity is only affectively earning you whatever your interest rate is on the loan.

You could also look up local STR PMs and ask what agents they recommend (hint, they can also help you with the Operating cost piece and are usually willing to share info since they are trying to earn your business).Good Luck!

And then pick up your own properties here and there the first year so that you can eat from what you earn from others, and you can build wealth with your own properties.  

For now, my goal is to earn an additional $2,000 a month of passive income (after expenses) within 3-5 years from now, in addition to my regular income.

Benefits for the seller are: 1) Still get monthly checks without dealing with tenants. 2) They are earning interest. 3) Tax benefits by spreading out the payments

The average unemployed person could earn $3,600 in just one month of unemployment and stimulus, on top of their regular unemployment.

I didn’t want it sitting in my bank account earning only 1%.

I don't discriminate when it comes to making a healthy return on my hard earned money :)  But mostly I buy multi family and am now focusing more on large mixed use buildings. 

I would like to find a property in decent shape with little fixes needed because I can still can earn cashflow and gain experience while I do this.