“How is selling, renting, and waiting for a downturn to re-buy really suppose to work out for the long term?”
Unless you have once in a life time drastic (50% or greater) downturn occur I could never see the logic in selling and renting/waiting for the next downturn, rent + commissions will eat most of the profit not to mention moving costs, hassles and most important time.
Maybe if you start out with “2” LOL.
Other than that I think it would be a lot of work and lost time for not much.