Anyone could do well 3-4 years ago but it's the people who take it very seriously who are doing well today.4) You'll want to list on more than just AirBnB. 

Like @Jeremy Holden said above, sub2 could be a good option for you, he's a great resource to lean on in this market as well.

We can offer both in house private money for bridge loans/fix n flips as well as all your other investor loans including DSCR, Conventional, Non-QM, and Commercial. 

Then what happens on paper a property looks like a cash flows very well, then when you add in vacancies repairs and life in general, they end up having to start using credit cards to pay for things and get caught into that spiral To answer your original question most real estate investors are not buying a property every year.

Quote from @Jacob D Adamczak: @Anne Christensen I am not finding them to cash flow unless you are finding a really heavy value add where you can be all in for 65% of ARV. we did very well in the Park circle area building new homes..

Is that information the selling agent would provide to me?

Additionally, if he does have to foreclose, the costs of foreclosure (including his attorney’s fees, etc) will be covered as well.

Are you buying in an association that will provide cleaning services?

There are numerous state and federal laws related to buying and selling mortgage notes as well as originating mortgages/contract for deeds etc.You have Dodd Frank as well as numerous other consumer protection laws that you have to deal with. 

My take after well over 20 years of investing in real estate is that if you want to continue to enjoy a great and profitable career and also have a life, that you consider taking @Jim Pfeifer's advice.