I see the price range for these types of properties is between $1 million and $1.6 million, but finding a good deal in this market can be challenging.

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

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

Challenges?

@Jamie BanksI understand there are multiple parties: 1) displaced insurance policy holder (tenants)  2) ALE 3) The company that supplies all the furniture and install the washer and dryer. 

Eventually, the supply of essentially free house and/or suckers runs out, or law enforcement catches on, or some combination of those factors.

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?

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.

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.