@Eli Gosnell there is likely some specific forums for each of your questions if you want to dive deeper but in general looking back I think I was so so so afraid of maintenance things and major issues coming up, and the reality is, even with every precaution they will happen and come up, and even the major ones (water line break into a basement) end up not being that big of a deal in the grand scheme of things.  

We don't do a ton of revenue and I have 3-5 employees at any time, but when a management company just withholds like 2 grand like this month (we remodeled a pent house unit for a national company) it messes with my cash flow and my employees getting paid.

I’m a property manager in Grand Rapids, and we use RPM’s Wealth Optimizer along with a customized spreadsheet I’ve built to help investors do exactly this.

My properties were also not super expensive in the grand scheme of STRs. 

Now with a grand total of 6 months under my belt - I'm no pro, so you'd know better than me if such theories hold any weight.

Huge red flag I own seven properties. 40 Grand would be a healthy down payment for myself.

I made a grand total of about $4500.

Fees vary, but expect a few grand between permit, plan review, impact fees, and utilities.My advice — do a pre-application meeting with the city or county before you close on land.

@Akash Sky, they are pretty much consistently hitting grand slams of more than that.  

Since I’m in Grand Rapids, MI, I’ll also put in a plug for this market.