It's a political speaking point directed to be regurgitated so politicians don't have to speak of actual true "why" to rents. 

One has lasted almost 30 years with thousands of people walking on it annually and the second has been beautiful for 20 years with slightly less traffic.

@Russell Brazil makes some great points as always.Often times wholesalers will make the claim that they are selling contracts, which on the face of it is true.

However, if all else holds true and you can get it for 110k and costs are 40k besides holding costs - I'd go for it personally. 

Rincon is a beautiful place, but oversaturated with STRs and properties are going at a premium. 

Its going to be a beautiful house when we finish.  2 stories plus a finished basement.  4 bedrooms 3 baths. 

My initial thoughts are, how is this true? 

If I worked a true full time+ job where I couldn't pull my phone out or take a call whenever I please then I would gladly farm it out, but since I usually can I will gladly pay myself $60-100/hour to self manage from a smart phone. 

I know it, both warts and beauty. 

Seems to good to be true.