Plus I don’t have buying power since I’m not dealing with one insurance. 

There are many different ways our legal system abuses those who have insurance with ultra high limits. $1million in umbrella coverage stacked on top of the underlying liability coverage for the property is more than adequate. 

Their real costs are in the fill fees and high costs of repairs and maintenance. 

So, a decent deal is likely to get better over the long run. given the high amount of cash needed for brrrr do you feel it would be better to start with a long term rental as an initial investment that has less risk involved 

Its important to know what exactly your goals are when making these moves and see what will make the most sense for you in the long run.When looking for your next deal, I highly recommend my local market of Milwaukee.

They're an exceptional and highly professional team.

Let's partner up, share our experiences – the highs and the lows – and learn from each other's journeys.

Houses are cheap and rents are high.

Deciding whether to sell or rent out your home hinges on financial factors like immediate cash needs versus long-term income goals, alongside market conditions in your area—favorable for selling if it's a seller's market or for renting if there's high demand for rentals. 

But generally I'd agree that anyone who NEEDS to borrow EM, probably shouldn't be doing that deal as the risk is too high.