There are many reasons why I haven't pursued the arbitrage model, but mainly that it takes too long for the ROI after investing all your time and effort into buying furniture and renting and paying utilities.Let's say you rent an apartment for $1500 and you spend $7000 to furnished it.

If I was going to buy in that area I would go closer to U of L.

You should just buy in Georgia...that’s it!

I have better luck with posting in the zillow rental section;   rent before you buy, live in a great property while you get yourself ready to finance a great home....Our business model;   protect the buyer or tenant at even our own expense. 

Selling one and buying several is fine. 

Unless you've done substantial improvements to the building or used a large down payment when buying, it's unlikely this will work.Perhaps your best move is to find a new primary residence that is 2-4 units and repeat the process.

While they aren't the cheapest when you first buy them, Kwikset has locks that are easy to rekey without installing a new set of locks.

I currently reside in Ohio where I buy SFR rentals and do a couple flips a year.

PS - Since 2003, Dean & DeWitt Property Management has helped investors buy, sell, and manage investment properties in the St.