If you are able to make cash flow on the investment and have it pay for itself in the time of owning it, then it may make sense.

You only options are going to be DSCR or a true commercial loan.Both of those are going to require 25% down for a "First time" buyer with (zero) landlord experience.

You make money when you buy1) "There is never a bad time to buy"2) "Interest rates are so high right now it kills every deal"

With rising interest rates and the widening wealth gap, first-time homebuyers are by locked out of the housing market, it seems long-term rental demand is solid but of course it would be important to get quality tenants in the better parts of town.

That said, in searching for my next property I am finding a hard time wanting to do another hard money loan.

What is the monthly time commitment, and does the cash flow meet the hourly value of your time?

If you put it out there asking for a 3-5 year lease with a small business or startup in your mind, but H&R Block or Supercuts comes along asking for a 10 year NNN (& it's corporate) and agrees to the rent amount you requested, there's no reason not to entertain that, you got better than what you were expecting (there's a reason NNN properties, or ones with a few NNN tenants sprinkled in that are national chains, often sell for lower cap rates), it's not like taxes or hair cuts are going obsolete any time soon. 

My plan A for my folks will always be to hire a 3rd party, but having done this for a very long time, I know I will come across those that want to be at least a little more hands on and I want them to have an option.Thanks in advance for any suggestions.Cheers,Robert

Tax rules can be changed at any time on a whim.

If you wait for an emergency to happen it is the most expensive time to deal with the issue.