This is illegal and highly regulated.

VA Loans are intended for Veteran Owner Occupied properties and have several regulations.

There's a lot of demand, not enough supply. 

Hey BP,Perhaps this varies by state (I'm in Ohio), but if I have a deal made and the seller is willing to offer financing, are there any rules and regulations for the buyer that differ significantly from conventional mortgage loans? 

I also don't know the laws or regulations there.

Good time to be buying if you can, but maybe even better in the near future.Like Dean mentioned Auckland is the place to be if you can afford it, that's where most of the population growth is and the supply and demand is out of kilter.Christchurch is a dead duck unless you know how to deal with Earthquake damaged, uninsured houses.Wellington is doing ok right now but is a "late starter".And the list goes on, feel free to PM me if you wish to discuss things more Indepth.If you don't live in NZ can I ask why NZ?

There are some rules and regulations to consider with a 1031, but they're not as complicated as they seem and you'll need a Qualified Intermediary to assist you anyway, so they would help make sure you cross all your Ts. 

Will we ever reach the point where so many people have decided not to purchase single-family residences, that the demand will drop below the supply.

Overall, transactional costs as a percentage of the deal are extremely high in Western New York for all these reasons, additional NY State junk, and other regulations that drive our costs up, as well as the relatively small value of the properties.

Of course, you'll have to clean and restock supplies, linens, etc between rentals and figure out how to find short term winter tenants.