I personally heard this strategy from Gordon Moss but I'm sure it's been around for a long time.Just to be sure to give credit where it's due, this strategy was first told to me in 1979, by Jimmy Napier, author of the BEST book on note investing ever written 'Invest in Debt'.

Why play with fire? 

The agent also mentioned that there is also the question of foul play that may come up, such as a scam.  

In my opinion, some associations have way too much control and tend to take advantage of the out of state investors (not all of course).Is your preference to purchase another STR if a 1031 is the play?

@Tim Bender  Are you only pursuing deed's after tax sales where there is a redemption period in play? 

Huntsville AL definitely is an appreciation play right now;  there is no significant cash flow unless you put well over 20% down, go to C/D neighborhoods, do multifamily/house hack, or find a unicorn of an off-market deal.  

The author was completely empathetic to my client.

The author was completely empathetic to my client.

All of that takes either time, cash, or both, and none of it is a pleasant experience for you or the tenant.During that time, would you have enough cash in your reserves to cover the mortgage for 3-6 months while the eviction process is playing out?  

I do wonder though how things would play out if large sums were involved.