Most deals are also out of state, and I'm not a big fan of doing that unless you're a VERY sophisticated investor.

The pros are that you will know a heck of a lot more than an average buyer and be able to size up a deal faster, the con is BIG, you may know  too much and be deemed a "Sophisticated"  investor to the sellers.

Maybe I'm not sophisticated enough, either?

I wouldn't worry so much about all the 'sophisticated' strategies Account Closed.  

. :) That being said, there is definitely a lot of money currently being invested into the vacation rental industry, and the industry is getting much more sophisticated. 

--then use some more sophisticated measurements of return.

@John Underwood sounds like you're doing a great job and are probably more sophisticated than a lot of other homeowners!

Mixed use is pretty sophisticated stuff from my perspective.

I bought one like that recently.It's a sophisticated strategy, and you really need someone to coach you through it.

I would expect the respective governments to put limitations on offshore balance transfers which might halt less sophisticated investors from moving money out of native accounts and into the US.