The amount of time depends on how things work in your area.

Sourcing and acquiring deals these days is a little more complex than several years ago, depending on your connections, resources, etc. 20% equity hold for all of the work you'll be going sounds slim.

The seller can disappear from contact over time and not be available when you go to sell - you need their assistance oftentimes depending on the lender.12.

The type of tenant the property attracts will depend partly on the location of the property (e.g., Is it in a trendy neighborhood, or a more working-class neighborhood?

Flipping could be good too, but it depends on the market.

Don't plan your future based on what a bunch of strangers on the internet tell you is the right return. 

Even though they cover all the costs, you'll still have to pay for closing expenses, about 3-5% of the loan amount.These loans are better for people who know their way around real estate, not so much for first-time buyers or those new to this game.Talk to a money expert, check out different lenders before you decide, understand all the risks, and look into other options like FHA or VA loans—they might be a better fit, depending on your situation.

Here's my advice: Section 8 isn't inherently good or bad; it depends on your comfort with risks, your experience level, and the specific property.

@Wenai Ji  I usually pro rate but it depends on what your lease says. 

However though for a STR and depending on the MTR, then you should supply furniture for the tenants rooms.