Between VRBO / Airbnb apps, automated templates, and your boots on the ground team it’s very easy and not very time consuming (once you get it going- initial setup on new properties can keep you a bit busy).The only requirement is having your phone on and with you 24/7 to quickly respond to inquiries & questions.

If your market experiences a drop you could find yourself underwater really quick. 

What I like to do with my borrowers is to have them pre-approved and have financing already in place for them so that when they do find their property and are going under contract, everything is able to move very quickly. 

Sellers are hip to the we buy houses guys, so they get turned off quick.

You should be able to liquidate them rather quickly.

First of all he has a business model that has worked pretty darn well for him for a bunch of years so don't discard that quickly because of what some spreadsheet tells you about hypothetical/potential returns. 

We don't have any desire to flip or make a quick buck.

If you and your wife are interested in connecting with other local investors, the best way to do it quickly is to attend some local REI meetups.

These things can get nasty quick. 

You will quickly find out just how that court interpreted the law and what the court believed was permitted and prohibited.