Given his spending habits during his first term, it might be a wash.Costs to build new properties will probably increase.

What the investor will have is a long term appreciating asset; that will provide an increasing cash flow as rental rates increase, and steady amortization as the note is paid down.  

@Greg ReeseMost small investors will benefit by having the LLC created in the state where the property is located at.Creating an LLC in a state like Nevada, Delaware, Wyoming may be better for the big players if items such as charging orders, business friendly case law, anonymity are important to you.However, be mindful that setting up LLC's in those states will add to your costs as you may have increased annual fees for annual LLC fees + registered agent fees.

Do the math and you'll see it doesn't make sense.The best way to invest: increase earnings, reduce expenses, and save.

In most markets it is not a linear price increase.  

Somewhere long before 10 years, the higher cost market is likely to have the better cash flow and that will in general increase each subsequent year. 

I am just a guy who tends to give illegal advice, I guess.And finally, folks need to be aware that while many travelers pick the nomadic lifestyle for some of the awesome reasons: travel, excitement, variety, some pick it to try and increase their income to a level where they can earn their way out of terrible financial situations or decision making.

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

Insurance is now a big factor in the expenses of investment properties, even here in Reno, NV there are areas that have had large increases for single and multifamily properties.

As long  the tenants pay the rent each month, increasing their rent will be very tough and getting them to leave will be extremely tough.