I have actually had a lender show me those stats.To make it a little less risky, they require larger down payments, emergency reserves, and charge higher interest rates.

Ask the team about their knowledge of the specific submarket they are targeting and how they plan to capitalize on emerging opportunities.

This will likely emerge as you do some modeling and you'll see that $5K simply isn't enough.  

What about filing for eviction with an emergency motion to vacate the premises during the pendency of the proceedings due to unsafe conditions?

I would do one, minor rehab via contractors, rent it, and keep the rest handy for emergency repairs. 

You're still way under market, so even if a catastrophic emergency happens, you can exit your position and still make some cash.

Who cares if yields on these riskier assets resemble LTR yields several years ago … it’s the best option we have So more supply is on the way while demand is normalizing post-covid, bringing revenues downAnd yet more headwinds are on the way. another threat is an emerging class of better designed group hospitality assets.

I personally would spend $500K to pay cash for B/C single family rentals in the Oklahoma City urban core and retain the remaining $100K for an emergency fund.

If you chose you can create a matrix they would use to handle emergency repairs. 

If its not an emergency, don't immediately respond to their requests, even if you are available.