Discuss any pros and cons with your attorney and CPA to weigh the advantages and disadvantages, particularly regarding liability protection and tax benefits.

Being a single guy in his 40's, the flipping concept is right up my alley since being commitment-phobic is not necessarily a disadvantage here...

If you had a $1,000,000 General liability policy with a $500,000 sub limit for a pool for example, this is to your disadvantage-not advantage.  

At current rates probably 30% down to get to a 1.2 DSCR.As an OOS investor, you have a huge disadvantage compared to local investors and you are cost burdened by paying a PM.

There are several advantages as well as disadvantages in working with a turnkey provider.

There are advantages and disadvantages to the stock market and real estate.

I think you are at a negotiation disadvantage as the units are rent controlled.

You'd be disadvantaged because you'd be hit with closing costs and more taxes compared to a refinance, and also suffer the other disadvantages of free and clear rentals compared to leveraged rentals which others have discussed at length, but you wouldn't have any debt, and would be safer in the event of a downturn.

In a competitive market, it is a real disadvantage to be seen as a "skeptical" or "needy" buyer.

Of course, back then (in the 90s) there wasn't any real internet or Bigger Pockets to get advice from, so I had that disadvantage, but nevertheless I made a poor decision by selling in hindsight.