They purchase brand new vehicles and think it's smart and normal.

This would depend on your tolerance for vehicles in the yard, where you are located, and if anyone would be interested.

I'm considering purchasing a vehicle to do showings as an agent. 

Not for $20 to $50 per hour when the distance between properties is spread out and not when they are using their personal vehicle, gasoline and have to leave their office for several entire days!

I don't fully understand these, but I gather it's a way to get the tax deferment benefits of a 1031 exchange, but in a more hands off vehicle that doesn't require day to day landlording duties. 

Totally paid off, and I almost will have a company vehicle!

Invest in my goals and the vehicle I know best.

On my last post, I listed the 10 reasons why real estate syndication is a great passive investment vehicle.

@Ilgaz Arikan I know STRs have higher returns in the near-term, but my suspicion is that those returns will decline over time as competition increases, like with any investment vehicle.

I was looking at new construction townhouses as a possible investment vehicle.