Make sure that you have the right resources and contingency plans in place before tackling a project.Waiting period: BRRRR is a strategy associated with a longer time horizon, which includes at least two waiting periods.

If flippers focus on ARV's and being very conservative, and they buy properties right, there is going to be a lot of opportunity on the horizon. 

(The numbers just don't support a single strategy.)So you've found a great place to expand your horizons here on BP.  

So, one of the answers to your post title is that a con of 1031's is that they will not work if your business plan is buy and sell in quick succession.If your business plan has longer use/time horizons then the 1031 can be a very powerful tool to mitigate tax on gain and give you additional capital to further your acquisitions because it allows you to use deferred tax to purchase additional investment real estate.Instead of buying to immediately resell.  

There could potentially be big cuts in the housing assistance programs could be on the horizon under the Trump administration.

While out of state investing is an awesome way to broaden your horizons when your area doesn't make sense there are TONS of hidden costs even when you are like us and buy the best type of house to reduce costs.You still have the $200 an hire handy man (he charges by job, $10 light bulb lol) because he has you hostage.

However, if your horizon is more than three years we are very near what will be identified as the bottom.I am convinced the next few years are going to make the next generation of the super-wealthy.

Eventually, you'll broaden your horizons, but to start, just pick one area and go for it! 

Expand your horizons, expand the use of your money.  

Some investors are okay with shorter investment periods, while others prefer a longer horizon.