It should not take more than a day to know where to buy.

I would consider it if the stays were a week or longer, but in my experience the difficulty of cleaning does not drastically go up after a few days, it is still the same work.

If you are willing to stay in a property that needs some work that is awesome, you can buy a value add home, continue to live inside, and renovate at the same time. 

You may have the 3 day option period there if that hasn't passed yet.My second thought is, in consultation with your agent, if you are willing to give up the earnest money, offer the inspection report, your bank appraisal, and be willing to release your earnest money. 

Much better than spending the first 10 days of each month waiting for checks.I keep original loan docs in a fireproof safe and electronic copies on computer (each loan gets its own file). 

I am pretty much in this same position literally.

Today my wife and I shoot for 6 months' worth of spending in our personal emergency account and about the same in our rental property emergency account. 

.- With scenario 2, here's the the project cash flow breakdown (per month):Estimated Gross Rental Income: $3,400Estimated Conventional Monthly Payment: $1,275Private Loan Interest Payment (46K@10%): $383 Estimated Monthly Operating Expenses: $1,500Net Cash Flow: $242Again, this idea comes from that same book by Brandon Turner. 

I have a place sitting in the market for over 60 days now,  that is fairly priced, but there has been absolutely no interest.

There were some bad days of course, but overall I'd say I probably spent 4-6 hours per week managing my 15 units.