Also, I have to admit that I was uncomfortable renting our in-law apartment on the long term market.

Bobby,We were very transparent in the process of on boarding and made mention several times that if you're uncomfortable with us, do not trust us, or want to be hands on - then you should probably manage it yourself. 

Force yourself into uncomfortable positions so you can get comfortable. 

My issue is that I craved knowledge and I was willing to make myself uncomfortable to get it.Four years later, and these gatherings now work like this:I meet up with a core group of friends before the meetups and we have dinner and a drink or two ahead of time. 

Based on that, decide which way to go.To get you started, some of the pros of SFR's:  the tenant is paying all utilities and responsible for routine maintenance, like cutting grass and shoveling snow; broader market for your exit - SFR's can be sold to other investors or owner occupants; additional exit strategies, for example, lease option. 

I'd recommend getting in the routine of analyzing properties EVERY day.

Nothing to add from an investor point of view, but having lived in them overseas while deployed, I can tell you they are very cramped and uncomfortable.

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

Based on that experience, I would go out on a limb to guess that most of the concern is a result of either the bank being uncomfortable with lending to an LP if they aren't well-versed in it and thus cannot confidently assess the risk, or (2) banks want personal guarantees from limited or general partners as the investment vehicle is generally single-purpose and would be hard to recover against.

If luckily the zillow's final price is higher than the nett price what otherwise the seller might get through the routine channel of, fixing, preparing, staging, getting into a contract with a realtor for 3 months, holding cost etc. it may look like a "give a try with zillow" scenario.