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if you're in St Pete frequently you'll need to turn some of those vacation trips into work trips - networking, building a team, and trying to find a distressed property.but the trick is then going to be moving quickly if either 1) a distressed property hits the MLS (unusual, but not unheard of) or 2) a distressed property comes to you another way (from your network, from a wholesaler.)how you will move quickly enough to lock it down and buy it, if you're in RI? 

Frequent hail storms pushing insurance rates up in that market. 

I think Duluth is a good if not great market but it means nothing if you can't execute.Hey Tim thanks for chiming in, yes I have friends in st Paul who frequent Duluth. 

Inspections are more frequent. 

Surprised about the construction especially since the earthquakes are frequent and can be bad.  

Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

If you’re in the position to buy multiple deals because this nursing home may get properties frequently.

So your $10k could get you a property but what you don't think about is the tenant class is lower and the ups and downs are more frequent.