So let's assume you have significant enough equity in a property to pool together a reasonable amount of starting capital.  

Now CA. it can take 6 months to a year to get a cutting permit and you have to address all environmental issues in your application up front Including Hooting for Owls and Indian artifacts along with other species that could be endangered or Vernal Pools etc etc.

My guess is there entire client pool are one and done investors from out of state. 

The payment is determined by the balance owing or the average daily balance - check the terms of your HELOC to determine what it is in your specific case - plus the interest on that balance for the payment period.If you can manage your HELOC payments so you're throwing big chunks at your 1st on a regular schedule you'll payoff your 1st much faster than making double payments or any of that.I don't have the numbers or the charts right at hand, but yes - using this technique, you CAN payoff a 30-year fixed in as little as seven years ... nine to ten is more likely, however.Note, however, that every time you take a big chunk out on your HELOC your credit will take a hit: the spike in utilization will lower your score and impact your credit profile.

Single-family homes benefit from a larger buyer pool, appealing to families and owner-occupants, which makes them easier to sell.

This provides an international/affluent tourist pool whom are extremely unlikely to disappear regardless of local economic conditions.

@Preston Dean I personally like to make sure I have a set amount of reserves for each property to cover things, so if you have a pool of funds sitting aside personally I would just earmark a certain amount that you don't touch except for that property (or an emergency).

Views, indoor pools, game rooms and proximity to attractions.

I like being an option to a wider pool of guests.

This has a cost but nothing close to what you’d have to pay investors in a pool, which is something else you mentioned.