I had to evict one tenant already and am being much more strict in my screening process.

I would always check the condos fine print rules and regulations and see if short term rentals are allowed at the building.

Understanding local tourism patterns can help you adjust rental prices.STR Regulations: Many cities are tightening regulations on short-term rentals, which could push more property owners to offer mid-term leases as an alternative, increasing competition in this space.9.

Also, they know things about where you are working...Keep in mind that your municipality will have codes and regulations as well that can be hidden costs. 

I have minimized that risk by being very strict in my underwriting. 

Alternatively, convert your first home into a short-term rental for higher cash flow if regulations allow.

I understanding is the TN has some crazy rules and regulations that complicate this process. 

However, the short-term rental market comes with added complexities like managing turnover, dealing with seasonality, and ensuring you comply with local regulations.

There will likely be local regulations that will dictate the maximum late fee that can be charged.

Legal and Regulatory Compliance: - How do you stay updated on local laws and regulations affecting property management?