The comment one guru makes, is that it takes 90 days of 5 hours a day calling and talking to people.

@Muhammad Rehan,I second @Greg Parker's comment about Alabama, especially if your goal is to generate positive cash flow.I personally have a hard time believing that rentals in either Fayetteville or Pflugerville can deliver cash flow after accounting for all expenses.

Anyone live in that general area to comment on smaller town vs. the larger 250k population cities? 

Nathan's comment offers an excellent starting point.

@Kang-Li ChengI cannot comment on this specific company but we buy loans from similar companies (both performing and non performing) and I Can say the consistent component to these companies is they are horrible at underwriting and write loans to collect the points / fees but many of the loans we see we cannot believe they gave that person a loan.I am curious what types of returns they targeted as the invest in one asset model to me is very risky.

I ditto the above comments to investigate MTR property managers, as well as tax consequences.

As mentioned in a previous comment, you don't want a cheap appraisal/inspection.

This is the answer, but it got buried in all the comments

So is your comment about passive investors wanting ROI that are only achievable (on a SUSTAINABLE basis, and without undo risk) by knowledgable, experienced active investors "in the game".  

Unlike your first comments, I do not agree with these. #1) We have had STRs since 1999.