Whichever makes more sense for you depends on your budget, target areas, ROI goal, etc.

The IRS generally allows deductions for second homes if you use the property for personal use for more than 14 days or 10% of the days it's rented, whichever is greater. 

I never commingled any funds because whichever prop it was, I utilized the checking account for each property.  

Louisiana law states that any tenant who breaks a lease and leaves early (except under some circumstances, and this isn’t one of them) must continue paying rent for the duration of the lease or until I find a new tenant, whichever happens first.

But you have to be a good salesman, you have to do your market research, financing research, and also build yourself a pipeline into the opportunity of whichever market is chosen.I have a Canadian client who runs things that way. 

Listing price: $65,000       Brokers fee: 6% or $4,000 whichever is higher

All good deals but which ever one bites.  

The beauty here is you don't have to necessarily choose which strategy you are embarking on for the first process of these strategies (buying a property in need of rehab and doing the renovations) - the best investors typically will have multiple exit strategies and can make unemotional decisions once the property is completed whichever way the numbers point to (flipping or keeping and renting/refinancing i.e.

Which ever market you choose will depend on your strategy and how involved you are going to be.

The ruling on commercials is that 1 unit OR 25% of the units on the lot, whichever is greater.