If you are going to "keep the really good ones as rentals", define what's good for you.(4% return or 20%,Brandon of biggerpockets says he can get 15%).  

I would suggets defining these areas and developing a weekly plan for each aspects.Do the same for Buyers as well.

When money is involved there is a good chance that the inner character of some people won't pass the test.

The following list includes various types of real property that are considered to be like-kind to each other because they satisfy the Qualified Use requirement/test and are defined by state law to be real estate: Single Family Residential Property Multi-Family Property (Apartments) Commercial Office Properties Retail Shopping Properties Industrial Warehouse Properties Triple Net Lease (Net Lease or NNN) Investment PropertiesAgricultural (Farm) Properties Vacant Undeveloped Land Oil & Gas InterestsMineral RightsWater RightsAir Rights Easements in perpetuityLeases with a remaining life, including options, of 30 years or more Tenant-In-Common "TIC" Investment Property InterestsDelaware Statutory Trusts "DSTs" Investment Property Interests Vacation rental properties (income producing) As you can see, the list is very broad and provides investors with a tremendous ability to diversify their investments through a 1031 Exchange.

A good team on the ground is definately important, even more for investors from abroad.

I will explain the difference using an (overly simplified) example where financial freedom is defined as a long term revenue stream of $5,000/Mo.

DON'T LIMIT THE WAY YOU DEFINE YOUR BUSINESS.

I would recommend taking some time to properly define your criteria.

Bottom line here is, you knowing how long you plan on having the home as your primary, will help to better define your strategy for it.Lastly...I haven't done my first investment deal yet, so others here can speak to you from that point of view.

. § 61 and § 63 go into further detail. 63 talks about your gross income minus the allowable deductions. 61 defines what income is.