We use this labor to dig holes, move materials, and haul debris to a dumpster... nothing more.

So if your spending upwards of about 30k - 100k on a Real Estate Flipping education you better be in it for the long haul and have the right MIND SET to WIN because theirs no one to really push you but YOU!

Lastly, you can get an FHA loan and refi after 1 year if you have 20% equity in the property to avoid the PMI over the long haul. 

The one thing you could toy around with, more for sh*ts and giggles then necessity, is to 1031 exch into an apartment building in SF.

Check U-haul of Penske truck rental rates for a one way trip to, for example, Cleveland from a similarly sized city/metro and vice versa.  

While I am studying for my license, I had been toying with creating a business plan to facilitate my transition to a realtor, and part of that idea included doing exactly what you have suggested.  

I leased a handful of small apartments in the heart of Denver, jumped in a U-Haul, loaded up my van (and my credit card), furnished them all and then posted them on Airbnb.

The economics of a project like this are total b*llshit:)Between the new windows, doors flooring, etc etc. etc. this whole project was about $12 to $14k that includes labor materials, dump hauling etc.

But I know I have 3 options: blow my money on toys, vacations or lottery, put my money under my pillow or learn to invest and possibly grow it.

You may in fact miss out on a little bit of the run-up, but when things go south and everyone is running for cover, you'll be in a stable position to clean up on the discounted assets others will be dropping like hot potatoes.Whether it's real estate, stocks, old toys on American Pickers, or a multi-billion dollar business deal, it's all about buying assets when they're cheap so that if you want to or are forced to sell down the road, you've already locked in a gain on the front end and market fluctuations in the interim won't hurt as much.