The cost savings is minimal.  

(We also were conservative in our new home purchase and are able to cover both mortgages, though we've tightened our belts more than we would prefer of course.)Anyways, we did immediately get an offer on the house, which we took after minimal back-and-forth negotiation led to an agreed-upon price of $112,500.

In 2012 I'd have happily paid for it since it'd have been minimal work for all the upside and appreciation up til now, but I clearly missed the boat on that one, haha.

If you want to have minimal cash flow (maybe $200 to $300 a month when you move out), but want to hold on for appreciation, it would be a good play. 

If you fly mainly in the west, you'll have minimal issues.

Common unforeseen circumstances include, but are not limited to, delays in getting permitting or scheduling an inspection (though an expeditor may assist with this or a third-party engineer if that's permitted by the locality), the quality of the GC/subs/vendors and whether there is transparent and timely communication and conformance with the plans drawn up by the architect/engineer, zoning issues, setbacks/variances, what materials to use for the new builds (e.g., are you going to use cinder blocks or poured concrete for the foundation?)

Having a CA LLC you will have the privilege of paying an additional $800 charge on your CA return, and you may also owe another $800 fee for both the Texas and Wyoming LLCs if your activity rises to a certain minimal level.If any of these entities are multiple member LLCs they may be taxed as partnerships and its my guess you will need some professional assistance for that.

Flipped this through Covid-19 which delayed our closing by about 40 days.

I didn't use a property manager for this one, but the unit was fully refinished prior to renting it out which minimized maintenance issues.

After a bunch of delays with the bank and them ordering my appraisal, the appraiser finally went out to the house and appraised it.