For instance, some rooms in finished basements don’t have full-size egress windows, and therefore aren’t appropriate to rent as a bedroom (without an egress window, a basement room can be a death trap in a fire).

A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

If they underperform then take appropriate action up to firing them. 

It's likely to better to evaluate the property of the price per sq ft to rebuild + land value, and see where it's priced to see if it's an appropriate buy.

Then in the future when you have 10s of thousands from it, that would be a more appropriate time to drop a couple thousand on the mortgage if you want.  

If you have a LLC operating in the city/state they'll want you to have a business license and then pay appropriate taxes.  

The two new STRs we may have to determine if the location is STR appropriate.  

I don't want to drive myself nuts on this (I think I already have, lol) but I do want to be fair to my tenants and charge them their appropriate amounts.

Before pumping the company warned me that if this particular septic (made in 1964) didn't have the appropriate bottom that they could not "certify" it and that it would have to get replaced costing over 10K.

3) When appropriate- I'd ask for permission to be open and honest ("Can I speak honestly with you about what I think the challenges of the property are?")