I'd recommend diverisification, but if you do come across an exceptional opportunity in real estate or otherwise to be open to skewing in that direction.

If everything you are worried about is an exception or an exclusion on a title policy, then your title insurance isn’t going to ease your worries.You mentioned this is a flip.

Thanks Bill for you invaluable insight.Are there any exception to 12 months residency for primary home loan ie change in school, job. 

Would I rather own an AirBNB in Galveston for the next five years where a permit currently costs $250 a year and a correctly bought deal can still perform exceptionally, or in NYC where I can no longer operate now and for the foreseeable future?

I agree except some clients I already have at limited service will not cash flow at full service or need material participation. 

The only exception to that is the Eastern Panhandle near DC.I’m not sure about this specific deal, but knowing the location and little to no cash flow, no way I would buy this. 

There are definitely exceptions to what i just said.

Point of fact, I'm not actually concerned about anyone's view on PMs I definitely think they are vital.

You can capture the potential tenants vital information and send them a lock box code so you do not have to be present.

There are some exceptions (usually when offering on portfolios, I don't see inside each one before offering, only during due diligence; and I state my assumptions about their quality beforehand).