Dumb question - but are these auctions online only, or in-person? 

Some will shed most is not all of their rentals and just do lending .. personal choice.. some things to keep in mind ONLY do first loans. 

I personally know several blue-collar millionaires from HVAC techs to plumbers.

I’m not a former IRS person.

The drawback is you need to build trust and relationships upfront.Both have their place, but private money tends to offer more flexibility, while hard money is more structured and accessible if you lack personal connections.

I personally would never invest somewhere that could outlaw rentals.

I question if the person that has issues matching 1) knows how to feather 2) has the original paint color/code. 

Quote from @Matthew Crivelli: Personally, I'm not a fan of Air B & B.

Personally, my primary residence has appreciated around 6% in market value and I live in Levittown. 

Personally, I would hang on to the cash.