This COVID-19 environment is unique to us all but I think RE is always a good investment as long as the numbers work for you.

Any renovation surprises or delays trying to flip in today's environment?

@Nathan KillebrewYou are a product of your own environment.

Unless you're willing to do 90% of the work Yourself I doubt if these make money ....at least probably  not the kind implied ... particularly in today's economic environment .

They will provide new agent training, oversight, contacts, networking, environment, processes, and resources that you will not get from your smaller firm. 

Cash flow will be tight in todays interest rate environment but to recycle the capital over and over is the key as you said and I do believe that is still possible.

Rent bumps and paying bigger % of income on rent will help create an environment where 1st time buyers wont be able to save for down payment and closing costs, forcing them to rent for even longer period of time.

There's also rarely a dip in tourism in Asheville, so demand stays very strong no matter the economic environment.

In most environments that is the more likely outcome right over the long term, but that doesn't mean choosing the lower risk option is ignorant or counter intuitive to wealth creation.Yes, the velocity banking method is a gimmicky idea.

The first year is when they are most likely going to have problems while they adjust to the environment or during their growing/training phase.