Yes they are a nice bonus, but you could find yourself on the end of a lawsuit due to a guest getting injured or even killed.

The word arbitrage was not even being used then to my knowledge. 

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

I have one single family rental now.

Because it was a new construction, the land that was built up around the property did not have time to even grow grass, so it was easily washed away.

If a property needs too much work upfront, it may not be the best first investment.4.Factor in property management costs—even if you self-manage.

Even my realtor says it's an easy process, i guess depending on what type of exchange you are doing.  

You wont be wasting their time even if you dont buy for a while - that would be my first recommendation.

How could you loose money after even 10 years.  

But applicant 2 did not provide any single residential address in application saying he travels 85% of time.