Also---if you purchase a rental property in another state, could those of you who have investments elsewhere explain the tax implications (very generally, of course)?

You should be able to repeat the process at least once and possibly twice before the banks hassle you about buying as an investor if you can explain a personal reason for the move to the next property (better neighborhood, closer to work, more sqft, etc.) 

@Timothy Maloney Could you explain the line of credit program that your company offers?

Can someone please explain how this generally gets handled in a wholesale (assignment of contract) deal?  

When we sign the rental agreement we ask them which option they prefer and we explain how that option works.  

I do not want to show up at my own property, with potential renters to show the house, and have to explain to them that I have the right to enter without their permission (but I did give a 48 hour notice).

Can someone explain to me what exactly is a rap mortgage and how it works?

@Anil Samuel I know a few contractors, just waiting to work out a possible time to meet with them and explain what I'm doing.Thanks for the advice!

I will explain to them the benefit of executing a deed in lieu.

Not going to explain why in detail here as it's not part of the original question, but anyone can message me anytime about it if they want an explanation.