Embrace each failure as a testament to your progress and transformation, turning every challenge into a stepping stone towards achieving your ultimate objectives.

Having a strong boots on the ground team in the area can help bring good deals to the table, filter deals better, determine viability quickly (which in a market as competitive as this is very necessary), and ultimately get the right deals done.

After taking all of those deductions, it is unlikely that you will ultimately owe any taxes on the rental income. 

The decision to use debt or not ultimately depends on one's priorities.

Your post may resonate with someone who is in the process of listing a traditional rental but who had never previously considered arbitrage.Please keep us posted on this thread on how you ultimately find your successful leads.

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

It was pretty hard to find properties where the numbers and landlord laws made sense which is what ultimately led me to investing in Columbus, OH.

Ultimately, you have to be clear on your goals. 

Once we get this rolling, we will definitely be looking to the south, Ultimately I would like to have 5 to 10 properties throught Utah.

Ultimately, it's about you and what works to give you enough comfort and protection from all the unknowns.