You should always keep control of the escrow you are using. 

As an owner-occupied property you'll qualify for low-down payment loans. 690 isn't great, but it's probably good enough to what you're looking for, if your DTI isn't out of control right now. 

There are pros & cons: little to no effort on my part, little to no control on my part, the location is mostly irrelevant (I have investments in 9 states), you need to be sophisticated (knowledgeable), you have to get access to folks that are creating deal (folks that you develop a trust relationship with!).

You can raise rent once every 12 months, but there are limitations, especially if the building is rent controlled.

If you're self managing it'll make things easier to control.

I am about to close on a property contingent upon inspection and according to the disclosures “NW corner of property was regraded to control water”.I have not seen property as I am out of state but will see through video this week during inspection.This term is new to me as I tend to buy newer properties.What would be your concerns about this property?

I think $625 a year is fine.I use AT ONCE Termite and Pest Control I think they might be little expensive than $625, but I like their service.

I am doing IO for first 5 years...so our cash flow is not reduced substantially and allow me some time to acquire(the purpose of the refi is to diversify our RE equity) an underperforming multi in CA, and despite rent control, be able to increase rents(via organic turnover and annual increases) without being super aggressive, and between the primary asset and the newly acquired asset, have the five years to increase the cash flows on both assets, so that when the loans(will leverage the secondary asset, too) goes to P&I we are not missing any cash flow and probably doing a bit better, despite the increased debt service.As for the lower LTV, I am being conservative and trying not to overextend our leverage.

One thing I gain from your breakdown is cash on cash , over years can significantly be reduced, if the ratio of rising rents versus expenses and capital improvements are out of control!!

They have an "Alternative RE Investing Strategies" meetup that would be worth attending after Covid-19 is under control.