but working with someone who is local to your market, who can show you their legal documents that they have used, introduce you to a proper title/attorney office for drafting documents...I mean, nothing is foolproof...but that route will have a significantly higher success rate. 

I have never known or had a single one done legally where any financial institute called a DOS for such, not 1 ever. 

So, communication and assignment issues, as well as not being able to explain the maintenance issues and the required work.3) Proper documentation and quality of work issues.

Document every communication in writing!

You will attract all scumbags in this world and soon find out your repair and legal cost will easily pass your yearly income.

Quote from @Shaun Ng: Hi, I recently have a legal name change, and I own 2 rental properties in Fairfax county, VA.

Fellow STR owner/manager from TX.I do think there is value in having some pre guest documentation in the event that you have a guest come in and make false claims about cleanliness, etc. 

But the answer for everyone may differ.Here are the personal attributes I see in those able to achieve a higher than market ROI, enough higher to be able to “scale”.1- Knowledge of real estate principles, real estate law and real estate finance2- Minimum 3 -5 years full time, or near full time experience directly related to real estate investing3- Ability to utilize technology for increased efficiency, capacity, and accuracy4- Excellent hired legal counsel and excellent hired marketing help5- Established method(s) of obtaining consistently high QUALITY deal flow6- Ability to manage and choose people who are NOT employees: Attorneys, Appraisers, Mortgage Brokers, Real Estate Brokers, Title Companies, Surveyors, Marketing Specialists, Accountants, Contractors, Consultants, Property Managers7- A VERIFIABLE track record of success8- Ability to identify, analyze, and negotiate a deal that can be “worked” for “enhanced” ROI9- Some type of competitive advantage; for example for me it’s my ability to analyze and identify mortgage loans that are actually less risky than all other lenders believe (on the investing in debt side), and on the real property side it’s my ability to analyze”pull the trigger” with LESS information than other investors need,  combined with the ability to pay cash, or raise significant capital almost instantly as well as being able to obtain loans at the lowest prime customer bank rate with no recourse or personal liability.  

Originally posted by @Will Zena:Also he is well advised legally.

Not sure if that is legal but I agree.