We work with builders, lenders, insurance, property management, and most importantly, We are boots on the ground.  

Zero tax state, no insurance or property tax issues like FL and TX. 

My career before REI was as an IT project manager at an insurance company.

Insurance placement guests tend to be very last minute, often will want to sign an initial 30-day contract and then the amount of time they will extend is very unpredictable but can sometimes be upwards of 9 months.

There will be title issues, probate issues, original seller not willing to close issues, appraisal issues, hard money lender issues, family says grandma not in her right mind to sell at 50% discount issues, termite issues, foundation issues, structural issues, can't get insurance issues, I don't have any money to move out issues, or a whole host of other problems.Well...every now and then you find someone that wants to dump one and it is a clean deal and they think because they are not using a realtor, they're saving 6%. 

Quote from @Richard Schubert: Interest rates, insurance rates, property taxes.

What about legality and insurance. if using a single family home wont the town shut you down (especially if neighbors complain) also will i need a commercial insurance policy?

I immediately did what I had done with other rentals insure the property.

Throw in some extra costs like moving expenses, professional photos (a cost the STR PM may also need to pay depending on the quality of the existing photos), renter's and lessor's insurance and a listing on furnishedfinder to round out some of the start-up costs.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).