Well the pro is cheaper and faster and cost way less than traditional repiping method.

I do know that Palm Springs has restrictions that need to be navigated.A nice lake house will usually do well.

Yes, he can purchase multiple properties of different sorts (single family home, commercial building, DST, Mineral Rights, etc.)One important thing to keep in mind: in order to defer 100% of the capital gains taxes, one would have to spend ALL the cash proceeds from the sale of the property and purchase equal to or greater than the net sales price.

I'm currently the owner of a couple long term and a couple short term rentals. 

It is much better than trusting a tenant to check given the implications if they are wrong.Why is he withholding half of the rent?

It might be beneficial to start evaluating investment properties in Memphis now while planning your house hack closer to your move date.If you have any questions or need more insights about the Memphis market, feel free to reach out.

I donot expect to get back deposit which is 1.5 months rent that is more than 30 days rent they are entitled to.

In addition, rehabs usually go over budget, and it is advisable to have additional cash to cover this shortfall.

With median home prices around $500,000, Reno is more affordable than California but offers higher appreciation than many Midwestern or sprawling metro areas. 

at 30k  not sure how many would be interested in that small of a deal other than mom and pops.