The downside to that is that cash flow can be challenging depending on the deal. 

The downside of Milwaukee is that it is an old city and the houses need significant capex, for example we replace several driveways every year, because after 60+ years the concrete on some of them is pretty bad.

The DSCR was mentioned to me, but I do not know the ins and outs - upside and downside. 

Bottom line, the area has positive momentum, so the downside is low and there is upside to your purchase.

The hedging is the reason that an IUL has a cap and a floor... they use options to protect downside and capture upside movement in an index.When it comes to The Double Play i.e. leveraging the cash value of a maximum over-funded policy to invest in real estate, the higher return potential of an IUL improves the overall performance of the business model.

On the down side since its near the ocean there are higher maintenance costs, taxes and HOA compared to Oklahoma.

I’m fully aware of the down sides of this, but thinking it could be a better fit for what I want out of life.  

What's the downside for you?

Additionally there is limited upside in terms of ADR however unlimited downside in terms of your deposits and monthly rent being due. 

The downside is that they're not very adaptable/customizable.