I think you should focus on the EXPERIENCE you can deliver.  

You make 300-400k after 3 4 years tax free.

While it only returns 5.23% currently, it provides a great cushion allowing sufficient time to wait out a crash without having to resort to selling properties at inopportune times - at fire sale prices.5- I keep a large part of my portfolio in high yielding notes secured by real property - and while I want every loan to make payments as agreed, my experience indicates that a certain percentage will default with me owning the property during periods of economic contraction.

I'd love to hear some personal experiences!

I'm curious to learn more about the experiences and outcomes of using this approach compared to short-term and long-term rentals.I’d love to understand which strategy might work best for me.

It will help alleviate stress and help me ease into finding the right fixer upper that is worth the time and money to invest.

If you can live there for 2 years you could sell tax free (2/5 year primary tax exclusion).

@Loren Blackwell   The LLC has not income/assets/credit/experience.

I am assuming this is your "typical" free standing bank on a corner somewhere.  

It's a good idea to talk to a lender to ensure you meet all the requirements and get the best deal, so if you want to discuss please feel free to reach out to me directly!