As @Jonathan Greene mentioned this is kind of a dated strategy in the new price/interest rate environment.

I'm not a fan of complicated electronic locks because they have a high failure rate and are often very easy to hack.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Of course back then we were getting “screwed” with 6-7% rates.

Do personal returns have higher audit rates than entities overall? 

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

Guests love them, and listings with hot tubs often command higher nightly rates and occupancy.

For example, the turnover rate on Realtors is like 88% a year or something like that.

Conventional loan, 25% down at ~7% interest rate How did you add value to the deal?

I agree with others have said, if they can make 24% return, why wouldn't they just borrow at a hard money rate and just make the 24% themselves.