Don't return the deposit until you have the keys and have inspected the house.

There are "turn key section 8" operators in Alabama that market to do all of the due diligence for you and you never even have to see the properties! 

Networking is key in real estate, and there are plenty of investors here who can share local insights and opportunities.

A good team (agent, contractor, lender) is also going to be key.

Property management execution is key.

(probably the biggest key).

Typically, crime is going to be present in a lot of the areas where #'s make sense, but the key is making sure the house you are buying does not have obvious crime ridden houses in the immediate area.

The key is to accurately reflect the type of income/expenses and the timing of everything.

Sorry to say so after the fact, but you need to learn some landlording basics.Never give the keys to anyone without a proper signed lease. 

There’s a lot of opportunity locally, but one of the 3 keys to success in STR investing is having enough cash to do them properly.