The person working out of Dallas has been able to actually do full BRRR with a full cash out refinance on his deals. 

Yes, we give up 10% of the monthly rent, but we have the piece of mind that someone else is dealing with the issues.Anyway, good luck!

Typically, eventually the tenant will move out but not as agreed and not per the timeline agreed, in fact most times, they will actually go from a receptive/agreeable stance in person (such as you experienced in your meet up) to a challenging and accusatory stance later on as you get closer to move out and the worst keep going to downright damage and nightmare issues.

My personal background is actually in accounting.

The best tools are the ones that you and your team are actually going to use.

The benefit is you can make an illiquid asset liquid & in exchange collect royalties from people buying/selling fractionalized pieces of the property on a secondary marketplace along with the standard price appreciation of the property.

The flooring is actually quite durable. 

If there was a good faith effort by the county to actually enforce their end of the deal, for the "safety of guests", I would agree. 

Truth be told, the only easy part is the actual purchase where there are no barriers of entry.

A reasonable amount of homework (stuff to watch/listen to, informational forms and worksheets to fill out... basically forces you to really THINK about what it is you want to achieve so it can all be mapped out and make sense as an actual plan).