I have operated several personal short term rentals in both Seattle and Coeur d’Alene, Idaho, have established systems and actually have hired an employee to manage the day to day operations, like managing bookings, messaging guests, updating dynamic pricing and what have you.

And still, understanding the neighborhood dynamics is not easy.

They are simultaneously rough markets with low cap rates, rent-value ratios, and tough dynamics from a legal perspective.There are some bright spots in the extended DC metro area.

There are too many dynamics that have been described above that will make that kind of change difficult in some of these tougher areas.

Very comic visual.

You are hoping that market dynamics stay favorable during the couple of years it takes to build and you get a big payout at the end.

Long story short a simple question can turn into a very complex and dynamic answer. . . but that's just my .02

I'd say that the person you are referring to is not an accredited investor; however, there are other securities exemptions that don't address the accredited/non-accredited dynamic for investors that may be worth looking into. 

Here some variables that might influence the dynamics of the Supply/Demand of the market:Supply: More distressed sellers:According to the Mortgage Bankers Association (MBA) the number of loans in forbearance in mortgage servicers' portfolios grew to 6.99% (as per May 5th, 2020).

Think of it as a visual resume.