I am also actively looking for my next primary (likely will be a multifamily still or SFR with ADU or with potential to add ADU) as we have really outgrown our current 2 unit property in Bayho. 

To obtain practical experience, start small with a modest multi-family property or home hacking potential.

The only thing I would potentially be weary of is damages to the property.

Like @Ryan Moyer said I can utilize that cash now to invest in more properties and kick the can down the road, potentially past my time on earth.

My contribution was primarily that of the lender What was the outcome?

Building a duplex or triplex for house hacking could be a solid investment strategy, especially considering the potential rental income and your ability to live in one of the units.

18% is pretty arbitrary without knowing the actual cost of the policy and therefore savings vs. potential repair costs.  

@David CozziYou may be able to do that.However, you have to consider the drawbacks of your stategy.You are converting a potential scenario where you have passive losses with no active income to passive losses with active income.

Look for areas with strong demand, potential for growth, and where you can comfortably invest.

The involvement of onsite management, often seen as a potential red flag, can lead to the property failing crucial qualification tests.