Avoid C-Corps, as they incur double taxation.Use LLCs for rentals and consider an S-Corp election for flips if income justifies the additional complexity.This post does not create a CPA-Client relationship.

I can also allow a tenant to grow with me - just moved a family from a two bedroom to a three bedroom apartment.Personally the only reasons I would choose to invest in multiple markets is a) because I wanted an excuse to go somewhere regularly or b) for economic/geographic diversity.I had the advantage that my home market was good.

We were a family of 7 living in a 2-bedroom home.

My wife and I just closed on a duplex in Oakland, but the basement/garage was already converted into a separate living space with a bedroom and bathroom.

Added mini split.  

I have clients doing 1 a quarter thats about the slowest to others that will go on a mini tear and I will help them buy 5 or 6 over a 45 day period then they go to work.But generally my busy folks will do 15 to 30 plus a year..

I have a tenant who lives in my very nice three bedroom unit whose lease provides a pet authorization for “one dog, one cat and one rabbit.”

Almost nobody that wants a 3-bedroom has only one car, except the occasional single parent with small children, or solo professional that wants a home office and guest bedroom. 

I made that mistake with a 2 bedroom condo - after 1 year, I had to shut down operations due to HOA rule violations of NO short-term rentals less than 30 days.#8 The 30 day+ rule -  Certain places Airbnb is outlawed or a softer rule is the 30day+ rule.   

Both "2 bedroom" units were listed as having the same market rents.