The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

These loans are quick and align well with your goal of selling within the year...just watch for carrying costs.For Home 2, the $210K mortgage complicates things a bit, but it’s not a dealbreaker.

What are the watch outs or steps that you recommend?

A shopping mecca five times bigger than Lakeline Mall, a 21st century mega-factory, an ever-growing Apple campus and a somewhat secret but sizable spot occupied by Tesla.
With a population increase from 2020 to 2023 ...

There are a ton of tools and resources that not a lot of people know so doing some YT watching and their training helps immensely. also, happy to answer any questions you might have on set up / operations.

As you read these books, watch the BiggerPockets podcasts.

What is the experience with this program - Pro/Cons, watch outs, etc?. 

So, you want to watch tenant credit scores, see the default chart below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% PROPERTY VALUES: What are buyers willing to pay for a property? 

As you read these books, watch the BiggerPockets podcasts.

Team of people watching notifications and contacting guests and if necessary going out to property to address issues.