I personally like LTR as a strategy since once you attract high quality tenants, it isn't that much work relative to MTR and STR strategies, but the key is you have to look for properties where you can add bedrooms, so you can do rent by room, rent to market tenants, rent to Section 8 tenants, and the more bedrooms that you have the higher rents you will get.How to do you add bedrooms? 

I like to be up front - personally.

Very few experienced investors do that well.. pretty amazing

As we're running out of personal capital to continue acquiring with, we're exploring a structure where we give investors an 11% preferred return that we buy them out of in 7 years.

In addition, they will need space in the common areas for their stuff as well (think refrigerator & pantry for food, etc.)No background check will show how clean they are, how they respect your space, whether they are a loud person, or a night owl, who they invite over to stay with them and such.  

I've made many great connections, educated myself on topics I didn't know existed before and have taken actionable steps in my personal investing business that I wouldn't have done otherwise. 

Some you will like and some are very 'pitchy' selling all kinds of classes and junk.Meeting people in person and getting to know them and what they do will help increase your knowledge that much more.

...talk to an experienced local realtor/broker, etc.* Assess what rehab work needs to be done and assess the potential rehab costs.

Personally, I'm not a fan, but I could see why some people like it. 

The questions you are asking are far to vague for anyone to have major input or guide you correctly as each person's situation is different.