It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

I noticed some T accounting shows matching liabilities, so I'm a little confused as to whom the actual lender would be in that instance.

The smaller homes can be obtained in nicer areas while demanding higher rents with section 8 compared to the private market.

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).

This my goal to obtain over the next 5-10 years.

Hi Joe,I think going with a LOC is going to provide you with more flexibility than going through the process of obtaining financing for a purchase transaction.

.: Quote from @T.

Than I thought it was all the things that could go wrong in the flip, hidden gems like K&T hidden in the walls, shot main-lines, etc.....   

We are t protected at renewal time. 

I want to use the profits from flipping in my home market to obtain and pay off properties in a better cash flowing, landlord friendly market.