By carefully managing the scope and cost of renovations, you can maximize the return on your investment.3.

I do not have 5 layers of management that make my rates higher, no lender I work with pays for my office space, licensing, benefits, marketing department, compliance department.... 

Make sure every investment is solid and that you know how to manage them well.

Practical Tips for Managing PropertiesFinding Good Tenants: Screen thoroughly.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Acquiring your 2nd STR is predicated on your successful acquisition and management of your first, and there are a lot of practical skills to learn on #1.  

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

Good pro tip is to not tell the tenants you're moving into next door that you're the owner but just affiliated with the property manager.

Quote from @Dustin Hagemeier: As someone in property management, I’m pleased to share that we’ve had significant success with the Section 8 program. [...]

Hi @Gil Canfu definitely there are many places in DFW where you can invest in a good rental property.I am not sure where you are at, but if self managed you should start in cities with good proximity to where you live.All the corridor between Princeton to Saginaw has good deals but there are many others things to consider as I mentioned previously.