The downside is that usually the rate is a little higher than a loan originated in your personal name as it is a non-residential style loan on a non-owner-occupied property (investment property loan).

In my roughly 14 yrs of owning rental properties, your biggest risk is not in payment of rent but actual tenant.  

Second, I'd like to manage each property to make some cash flow to cover my 2 biggest expenses which is housing (covered by house hacking) and transportation.

I work in their retirement plan services business, and the biggest regret I hear from folks in their 40s-60s is that they didn't start saving early on in retirement plans.

That's the downside of real estate investing and these forums.

I experience behavior like this every day.You may not like what I have to say.It seems that the biggest problem was how you managed the process. 

This is unfortunately the downside with hiring full-service property managers; you lose complete control of your unit and finances.

If your looking for the least amount of risk and biggest bang for your buck I would look for a company that is a reputable turnkey provider thats actually in Detroit and offers things such as an efficient boots on the ground team, all sorts of established local relationships, solid in-house management, an operation that is highly skilled and well versed in section 8, a company that has proven relationships with both out of state and local lenders.

The biggest issue I observe amongst real estate investors is the inability to articulate the reasons why they should transfer properties or simply own properties from day 1 in an LLC.

The downside though is your ability to recycle your money with a turn-key property is limited.