One downside of MF can be the age, and insurance can be a big issue.

The insurance is high.  

Quote from @Mike Donovan: Found this thread as I am researching Landlord insurance as it relates to student housing.  

And to be honest if you could get some strong social media coverage (like hire someone that knows STR to market the property), you could do very well!

Many stockbrokers and insurance salesmen are not fiduciaries. 

You would also want to add the LLC entity as an "Additional Insured" party onto the landlord insurance for the property.

Make sure you ask them good questions, make sure they carry insurance and that they are available year round. 

This is not a great return, but not terrible.As others noted, there are other risks, like having the property insured at full replacement or purchase price, or if the option is 100% seller financing with no money down or very little, versus 20% traditional down payment, this can start to move it into a better investment.

Address potential risks by explaining strategies like maintaining emergency reserves, purchasing proper insurance, and conducting thorough due diligence.

It’s time to look into home owners/rental insurance.