And I’ve noticed my cleaning fees and maintenance expenses aren’t as high as other operators because, for example, most people just stay in their rooms and keep to themselves.

If the lender finds out, they will immediately put the loan into default and send a demand notice. 

I've been noticing here in Houston all the smart investors started building and stopped flipping

All surrounding counties saw decreases. 

Tenant placement is a one time service and is often far more affordable than ongoing management, while still protecting you on the front end.As for compliance, this typically includes:Proper advertising and screening in accordance with Fair Housing lawsConsistent, documented tenant selection criteriaLegally compliant lease agreements and required disclosuresUnderstanding local and state landlord-tenant laws (security deposits, habitability standards, notice requirements, etc.)Correct handling of application fees, background checks and denialsGetting the placement and compliance right from the start significantly reduces risk, stress, and costly mistakes later.

Do the schools have increasing or decreasing student enrollment?

Quote from @Barbara Johannsen: I’ve noticed more seller-financed notes coming onto the market lately.

I'm cool with spending $300/mo to own this kind of asset, I just have to wrap my mind around my net worth increasing as my checking account decreases.

So, things are either "OK" and you barely notice or "TERRIBLE" and it is the only thing you can think about. 

I’m noticing a pattern in Denver where new STR competition shows up in waves, and by the time it’s obvious on Airbnb, the underwriting window is already gone.