The biggest thing I see new investors do, which JD calls out in his response to me, if you are simply going to invest in the deal with highest projected yield, you can generally assume you are taking on the most risk.  

I am often asked this question:  "What is my biggest financial risk in buying/owning a short-term rental property?"

The biggest issue I run into is that the minimum loan amount is too high for most markets in our state.

The biggest advice I would give on this is just be patient and be very communicative with your PM.

My biggest piece of advice would be to fire fast and get cameras/alarm systems in place.

Regional hospital in Denison, Two huge casinos in Oklahoma and a number of smaller ones, Four TI chip plants under construction, and they already have a plant there now, but not sure what it makes, Tyson foods factory (I think chicken), airport that I would think gets some cargo service (but no passenger service yet). 

Common questions I have been asked or had investors ask PMs while touring properties with them:What do you see is the biggest hurdle to your operations today?

I was the biggest fan of mint.

The biggest challenge I have right now is choosing a company to set up the homes they are all so expensive.

Investors looking to build their portfolio can take a property with tighter margins and also can make their rehabs cheaper.. this would be your biggest challenge as a flipper.