As a PM, I'm authorized to make emergency repairs without owner permission.

Although I'm seeing some great deals happen in 5-10 unit assets near the downtown and university areas.

Even if rents are trending up, if your tenant base can't make ends meet, the asset won't perform.

I do not recommend someone who has never owned real estate to do a fix and flip as real estate is challenging and cost prohibitive, I recommend if never owning real estate to start with an asset that does not need major repairs. 

This is yet another tale of a building inspector who feels the need to assert his authority by constantly reminding everyone, "I am the Inspector." 

IMO 6 months is nothing compared to other illiquid assets.

Even if you don't decide to keep it in the long run, it's an appreciating asset you can make money off of.

Yes, it costs money and is probably not worth it for under-7-figure assets/portfolios.

The alternative is to set up a self-directed IRA, or better, a truly self-directed Solo 401k plan, invest in alternative assets, and then do the conversion.

We're all talking about the creative financing, asset-based lendings of the world right?