While I am still having significant responsiveness issues, the quality of the listing and this new PM’s understanding of market rates is significantly better than my previous PM.I’ll note that during this time, there had been 2 hurricanes in surrounding markets (fortunately no damage to my property from either) that likely contributed to some of this vacancy.

., property management companies aren’t legally required to carry general liability insurance, but it’s highly recommended for protection against bodily injury or property damage claims.

STRs demand more time even though alot of things can be automated. you will managing cleaners, damage, guest experience, supplies, and more.4) Use AirDNA to see what an estimate of revenue can be, check Airbnb in your local neighborhood to see if anyone else if getting higher rates, and use BiggerPockets STR calculator to see what common expenses you may be forgetting.

@Logan Lambert well my section 8 tenants that are currently in there are living pretty thugged out and I’m sure that when I need to recover the unit that it’s going to be significantly damaged due to the fact that I had an inspection done three months ago and wasn’t happy with the pictures I received.

Also think about what can be damaged (tenants generally don't take care of the place as well as you would). 

Central A/C is damaged beyond repair and needed to be replaced, which can't be done economically or with coopperation of the HOA and other neiighboring owners.

@Stan MendozaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@David LewisRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

  $7k damage. 

I was determined to restore that.