I have not done it personally but have some insight, maybe my reply may boost your post to someone with more experience in it. 

@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.

And watch out with scents—unscented products keep everyone happy.

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

Real estate investment is my future.This amazing voyage begins with setting personal goals and vision.

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Paying more to guarantee getting the product versus jumping through hoops (short sale) or possibility of now owning it at all (auction).I'm only asking questions to understand!

I personally like radiators, especially steam because the heating system is simple!

Told them to do a drive by and call me back with an offer :)The person who called you probably just spent $15,000 for mentoring and “education”, and is now in panic that his 250 cold calls have not produced anything .  

I think this is a calculation a lot of homeowners are making right now--especially if they have a low interest mortgage, equity, and their house will cashflow as a rental.The choice is a personal one of course, but I think your future self will thank you if you pull out some equity from your existing home with a HELOC for the downpayment on the next house and a cushion renting your current home, use a property manager as you have other things to do, and buy the next house and do the same thing again.