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Condotels are also harder to finance, and therefore will be harder to sell to the next person when you want to do that.  

Personally, I get great cashflow in my NC markets that I invest in, and have gotten to enjoy a lot of the appreciation there as well.  

If you do it correctly, there are also ways to pull-forward depreciation expenses.Whether or not all these expenses will be useful to you is based on your personal tax situation which is why you want to have a good CPA.

As for your down payment, I can’t personally speak to a small business loan…you would just want to ensure you include those payments in your analysis and prepare to be repaying the small business loan and other holding costs during the flip. 

Personally, if I had the chance to do it again I would put down more money to knock off private mortgage insurance and increase my cash flow.

What cities do you see have a fair entry point that cash flows not in a crime filled area?

I'm new to trying to be a good landlord, friend, and person.

House hacking will also give you some personal "property management" experience.

If someone injures themselves and sues, they will be suing the LLC and not you personally.