So no 5yr issue of a straight rental for almost 5 yrs and then forced to sell.

I think many people can benefit from a forced savings. 

The lot/home rent ratio is decreasing and I think that trend will continue as lenders in our area become more sophisticated and force this model more.

I'm a big believer in forced appreciation.

There is also some room for forced appreciation through kitchen and bathroom remodels.Cons/lessons learned: It is a 3 bed 2 bath but the third is not very suitable for a third roommate (quite small ~ 80 sq ft).

I recommend using an FHA renovation loan to force equity and cashflow into the building.

He mentioned the concept that we need to have more than enough of something for ourselves, to be able to impactfully give back to others.

Did you focus on A/B neighboorhood and area or did you go for C/D neighborhood with lower income people where properties are cheaper, but tenant quality isn't as good?  

COVID-19 has certainly impacted the real estate market this year and many are predicting it will affect 2021 as well.

Many tenants are sharing how they have been impacted by COVID or other difficulties.