Will's advice is invaluable - I highly suggest approaching different agents with an "interview" mentality, but I'm always available if you have any questions about the DFW market specifically.Also, check out some of the BP calculators if you haven't already.

The biggest mental hurdle I faced when entering the STR space was that I did not want to deal with the headaches associated with managing an Airbnb and maintaining a 5-star rating.

But make yourself, your health, your mental health a priority every day and it will be huge! 

Mentally, this will help provide motivation.

Don't get sucked into the no-money down you can do anything mentality, everyone needs a core skill to make money to use for their investments.

I have heard that sometimes it helps with lenders that you already have experience in the industry.Spending weeks and months at a time on a constantly moving truck takes its toll physically and mentally. 

Unfortunately. it's also possible the son notarized the POA because his mother either didn't sign the POA or wasn't mentally competent to sign. 

I was mentally prepared to make 10+ offers because every seller gets multiple offers.

I find the "space travellers" are unfamiliar with the area, and they are starting off upset (edit note:  spell checker must have changed the spelling I used from "Pis***" to "upset") because they had to travel so far from home base...and mentally that already sets their calculater up automatically multiplying every number by 90%.2 - "Be prepared with comps that favor what I need the numbers to be for after I got a low appraisal". 

Ok that is the mental side of it.Next we have the lack of any decent number of housing being built since the over supply from the 2008 crash.