I am also interested in some other markets.My question is- What are your favorite SC markets to Brrrr in, and why?

I suppose I could always use a 1031 exchange when the time comes, if I don't need the liquid cash.

@Charles E.

I think you could really profit from circling back and doing a business plan of how you plan on acquiring, rehabbing and liquidating your target properties so you can figure out what your competitive advantage is.I'm sure this is just the first step to you making a mint of money, and I hope to see your deal diary in an upcoming post a few months from now. 

Here is a high level breakdown of two of the risks that you are carrying1) Liquidity - you are only as liquid as the reserves that you are carrying (which includes whatever is left in your heloc) so make sure that you have enough to cover unforeseen scenarios, personal and business2) Business Risk - as an owner of real estate some of the main risks that you carry are vacancies or non-paying tenants, lower than expected rents (negative cashflow), unforeseen expenses (repairs and maintenance)I would argue that both of these are higher when you are operating at a smaller scale e.g. if you had a fire at your triplex then 60% of your portfolio would be non-performing.

If you’re thinking about this like stock valuation, think of it as a P/E (price to earnings) calc In other words, if a company earns $5.00 per share AND the PE ratio is 15x’s current earnings the price per share would be $75.00.

Or state how many share each bath and how the baths are maintained between peopleGood point @Lynnette E., the bedrooms have locks for privacy ... but the bathroom has to be shared between 3 bedrooms assuming my friend is going for 100% airbnb occupancy (it's a single family home)@Marian Smith - another good point, I don't think they've checked Homeaway but they have looked around at Airbnb.

My return will still be relatively simple with just adding a schedule E. 

Here is a great free networking event on the 29th:https://realacquisitions.com/houston-real-estate-investing-summit/and another one on the 23rd:https://www.eventbrite.com/e/coffee-and-contracts-jan-2020edition-host-investopia-online-tickets-88871255317There're meetups pretty much daily - check the Houston forum here on BP:https://www.biggerpockets.com/forums/756-houston-real-estate-forumas well as local Facebook groups if not already. 

The market is liquid so time to move on.