I read Brian Burke’s book and concluded I wanted to go with a syndicator who was vertically integrated in all phases and also geographically concentrated such that they were experts in one  location.

My concentration for AirBnB is Gettyburg PA and Cape May NJ. 

But after an exchange - sign the purchase documents with one pen and pick up another pen to sign the refi docs :)Another strategy you could consider is reinvesting into multiple properties, where you purchase the first property cash (ensures some security and concentrates the equity) and the second property with a mortgage.

@Randall King If you find the property isn't performing well, a 1031 exchange would defer the tax and concentrate that equity into something that has a greater cash flow potential, like what @Corby Goade said.

I am concentrated in the land development sector and multifamily.

We have concentrated our portfolio even more into a 20 minute radius.

If it would concentrate on rent collection only and do it well, it might be okay.

If the banks / note holders want to concentrate on transfers they can do it with ease. 

Concentrate on your development cost and keeping them down and the deal will pencil.

for infill I concentrated on Charleston Sc and built about 35 homes in that market. uber competitive for dirt though they are running out of it and the city wont let you tear down homes in many cases because of historic considerations.