The key is doing your research and understanding the customer/clientele before committing to a market.

I understand the need for patience and future opportunities as I've learned through the stock market however we've come across a few great deals that would have cash flowed nicely but I was hesitant to pull the trigger on due to the hot market we live in and where I think it's headed.

The agents understand upfront that if they bring us a deal, they will write up the offer on our behalf. 

I understand the basics up until after the refinance.

I understand the basics up until after the refinance.

Another option would be luxury vacation rentals which I understand can cash flow more than what I'm making but may require more hand's on.

While I understand the excitement of the "house hack" idea, it can be challenging to start out with here in Memphis.

What you should understand is how those items that are "passed through" from the K-1 impact you from a tax perspective.You  can ask the syndicator for a sample K-1 (we provide to our investors).   

The financial world understands W-2 income, but has trouble with self-employment income.Unless you've started a business before, it's hard to know the stuff you don't know.

I'm not sure I understand the question, but as long as you give the current tenant the legally required length of notice for the non-renewal of the lease, after they move out, someone else can move in immediately.Edit: if it's clean and move-in ready