Rent to close friends and family and on AirBnb to cover my expensesOther than that I think finding a LTR furnished at that price point will be very challenging

Unless you're up for another challenge holding and renting creates headaches and PM "fun" you don't have time for. 

it is technically a real thing but very rare, and there is plenty of historical data out there that shows those who have less skin in the game are at a far greater risk of default by a factor of 5-7x.

To me it’s a challenging game, an intricate puzzle where if you learn how to play you get great results.

•What challenges or surprises should I expect?

For those of you actively working on fix-and-flip projects, particularly in dynamic markets like Houston, I’m curious about your approach to navigating today’s challenges.

Some examples of properties with high asset reclassification include medical clinics and hospitals with technical machinery and labs, grocery stores with machinery, shopping centers with rainwater drainage systems and large parking areas, industrial manufacturing facilities with advanced equipment, apartment buildings in suburban areas with swimming pools, golf courses, tennis courts and large parking areas for tenants.Here’s a list of the average amount of assets that can be reclassified into shorter asset life classes based upon the type of property.

However, you must give both a 5 and 14 day notice (concurrently) which must be properly served, and it gets more technical from there. 

I think one of the biggest risks you face with Cash Out is interest rate risk.It's really difficult to predict where interest rates will be in a 2-5 year time period, so it can also be challenging to model out future mortgage rates.

Yes, the economies of scale are better but I feel the jump from duplexes to a 20 unit will be much more challenging than you think.