So far, it’s going really well, and I’m glad we made the shift.For me, the decision wasn’t about issues with self-managing but more about freeing up time and mental space to focus on the next steps in our investing journey.Curious to hear others’ experiences as well!

We agreed to address the issues left by the previous tenant and you did not want us to handle it.

https://www.singlekey.com/en-us/ - I believe they screen the tenant as part of their underwriting before issuing the rent guarantee policy and the tenant also pays the premiums. 

As far as financing, if you have real CF then it shouldn't be an issue.

Personally, I find BTRs to be more predictable with fewer ongoing maintenance issues, and they tend to attract high-quality tenants.

An inspection is crucial to catch any major issues upfront.

The only issue is the interest rate is 7.125%.

I know this is also a National issue, especially in land constricted markets.

The main issue I have is contemplating the baloon payment at the end of the 2nd year and refinancing the remainder with a bank...how can I compute that into calculating the IRR?

What is as important is that you require the insurance to be issued with you as the landlord as "additionally insured."