But...just because the model works for him, doesn't mean it is what you should be compelled to do it.

I would prefer to buy again in Mammoth because I know the market, have a system down, have a team of people I trust there, but the market is a bit frothy and many properties are way overvalued right now.Also, I bought the place to use it and rent it out, so LTR is always out of the question if that is part of the business model.

If another same-model house has 10 occupants between grandma, grandpa, mom, dad, 4 kids, brother + wife + 2 kids in the same 5-6 bedroom house, why would zoning go out of their way to pick on 4-6 single professionals earning probably 250k+ jointly and being very "green" through their low-carbon living that's kicking their student debt in the teeth?

But I specialize in the lease option model so I attract really quality tenants, however, if the screening is done well for the tenant, I would imagine that the tenant base would be good too.  

We rented our first house out and are house hacking using Airbnb on our current home with the exact model that @James Carlson just described.

I suppose a higher cumulative preferred return could help mitigate this, but again, hard to say without numbers.Great discussion though, would love to hear your input on the types of projects you're accomplishing this model with.

The houses surrounding this home are newer models (2013 etc) and smaller sq ft..,  is it worth taking risk on such a huge home..renovations might take 8 months, then might be a bit difficult to find buyers since home is huge.. so out of pocket cost..

Walk inside and you feel like your in a model home.

Walk inside and you feel like your in a model home.

Unless you really want to do complex models or really want to learn about M1 and M2 money supplies you can probably get away with some really good books by experts in the field (non-academia).One more question unrelated to college: My ultimate goal is to make passive income off buy and hold real estate investments, but that isn't a day job I can start out with.