Start small, learn tenant management, and don't wait for the perfect market.Good luck!

I do fortunately have a few connections to a couple small towns across the US (southern OH, MN, etc.) so at least in those markets, I have a bit of an understanding on what areas to stay away from.

Only a very, very small percentage ever make decent income.

This is great for small businesses and entities with multiple properties.

I have seen instances where a 1031 exchange was not required such as1) The overall gain from the sale of the investment property was very small or even negative2) The taxpayer had enough passive loss carryforwards to offset the gain.A 1031 exchange is a very powerful tool put it has to make sense before going forward.

If they fail to pay, then you can consider taking them to small claims court or filing with a collection agency. 

Vrbo and Airbnb sync with each other for free, Vrbo has free dynamic pricing, both platforms send out enough automated messages for me.I check in on guests after they arrive to provide that small personal touch.We get consistent 5 star reviews with minimal effort.

https://www.biggerpockets.com/forums/12/topics/1136927-land-...I run a small organic farm in Victor, ID. 30 min from Jackson Hole and close to Grand Targhee ski resort in Idaho.

I will include appliance except microwave and small dogs will be ok.

I would encourage him to take a lot of time to assess, take small risks at first, and learn as much as he can along the way.