@Sara Donohue I would re-iterate what someone else said and make sure you have cash reserves for any real estate you're doing because problems happen and sometimes you have to come out of pocket to fix them. 

Who prevents sellers from doing it? 

This thread really needs your utilization and commentary James before someone saying no that's not my market because they unable to digest the data LOL Remember when I lent forecasting, MY forecasting, and how many said they FELT things would be xyz different various iterations?

FACT: Rent controls have FAILED in EVERY iteration over EVERY decade they've been attempted, to effect the stated goals.

You put out the best product possible within your means, provide the best, most consistent service you can, and constantly iterate along the way. 

.#3 - In my rental agreement I have the guest enter the names of each person staying at the cabin and re-iterate the policy concerning how many people are allowed at each property, and that any additional guests beyond what is listed in this agreement will need to have my prior approval.  

I see it more as a way to be a bit more agile, being able to pay cash for a property, then refinance it, or one of the others later to pay down the HELOC and repeat.  

As for the second iteration, sure, if you need the money to live.

It forced us to learn to be "agile" and think for ourselves of where the next good deal gap in the market will be, then jump.  

Is the sub-urb market hot enough that it may be hard to win an offer as an out of state investor (due to lack of agility which comes with distance?)?