So I will agree with Account Closed and say "It depends"

Depends what works best for you 

@Basit Siddiqi is correct, I would just like to add that these forms are: Form 8938: statement of specified foreign financial assets ( bank accounts) Form 5471: for reporting interest in foreign corporations ( depending on how your holding your airbnb this maybe important) I would highly suggest having an accountant do it for you! 

I live in the Bay Area, home to notoriously high property values (depending on the location, a property may run you over 1 million for a 3bd2ba). 

It depends on your goals.

Also, depending on your risk tolerance, you may want to get a mortgage on your ranch and use that cash to put 50% down on a couple of rentals.To get to 20 houses you're going to have to learn more advanced strategies, but to get started just get 1 rental to see if you even like it. 

General legal knowledge from the internet = WiseSpecific legal advice over the internet = Foolish. 

It also depends on the area you are investing in. 99.9% of Sellers want their home on the market as it is a very strong Sellers market at the moment. 

In normal circumstances (not a death), you have to keep items for 30-60 days depending on local laws and then you can toss them.

Otoh you don’t want to lose a good deal over it, I’d say it depends on your own experience level, how good the deal is and your relationship with your current agent and if you except to have an ongoing with him.