It's quite possible that you bid on something that looks fine online, only to find out the building has been torn down or burned out - both have happened to me and I've lost money in the process.If you're willing to put in the time, you can make a small return on a few thousand dollars, but you should understand the risks and it is one of the more advanced/legal intensive areas so again I'd recommend consulting an attorney on the risks because you can also lose money, possibly a lot if there is some kind of environmental problem on a property you bid on.If you don't absolutely understand what you're bidding on and potentially getting, if you bid less than 100%, then IMO you should not bid at all.I'll also say that RI Housing typically takes the cream off the top, in that they get first right of refusal to take owner occupied liens at 100% and they go after houses with equity.

Example: in lower end ~ mid range rentals lots of people upgrade flooring and counters and then leave the gross older cream coloured electrical plugs/ switches.

Just ask the guy who owned the ice cream stores where my daughter used to work.Do realize that's just a back of the envelope calculation.

We screen well and have been fortunate to get the cream of the crop of blue collar tenants.  

If anyone would be kind enough and willing to connect with me so I can get a copy of the purchase contract and the agreement to assign that active wholesalers are using, I would be happy to repay you with a Philly cheese steak, a bottle of wine, box of cigars, Eagles tickets, etc. you name it!

IE little to no EM  long closes.. subject to partners approval  NO REAL POF.. cream rises to the top  !!!!

You can not always increase prices to the consumer to compensate so it starts eroding profit margin with the same sales.This is why regardless of the marketplace the cheese and pepperoni etc. will not cost you above a certain price per pound with the big guys.

An active Dealflow will help make you more efficient at vetting the crap from the cream. 

All of the amenities, etc. for owners (waterpark, pools, parks, bike trails, tubing hill, rock climbing walls), plus The Village at Sunriver (restaurants, coffee shops, breweries, ice cream/candy, quaint shops , kids entertainment areas, and recreation rentals, are all geared towards STR guests. 

I'm not naive enough to think it's all peaches and cream and always will be but, with good screening and common sense, it's been a great experience.