I've specifically learned a lot from Dave and Henry on their podcast, but also appreciate Jesse Vasquez' approach with her mid-term rental investments.

Now purchasing a home with cash is always good b/c obviously cash is king but also I think the part you might've missed is that, the money your utilizing on these home's won't actually be yours, but the banks or whatever institution you used to fix the home or make its value worth more.

Purchase price: $785,000 Cash invested: $156,000 Short term vacation rental in Panama City Beach.

Quote from @Mel Kirchhoff:Some specific questions I have:• Should it stay fully stocked like an Airbnb (plates, utensils, towels, etc.), or pared down?

These were not specifically related to owning rental properties but the clients' assets (including any owned property) was better protected due to having umbrella coverage.  

@Ashish AcharyaYou're merely reproducing the IRS position, the one I specifically challenged.

Our goal is to purchase 1 property a year for the next 10 years. 

Purchase price: $154,431 Cash invested: $122,578 Sale price: $309,100 Hurricane flooded fix and flip.

Were you able to purchase umbrella insurance for your properties? 

Purchasing a “distressed” property and “repositioning” it requires significant capital for improvements, build outs, holding costs, maintenance.In looking for that “needle in a haystack” slam dunk great deal you’re competing with very knowledgable, greatly experienced investors with the cash to make no contingency offers and close in a few days.