Personally, I'd be nervous to not get some type of deposit from my guest because I like for them to have "skin in the game" 

I hate full blown Landlord Software because I only have about 10 units and hate the fees...I am a big fan of the "Lite" Landlord Software and the only one for rent payment that can be 100% free for the landlord and the tenant WITH automatic late fees is apartments.comI actually did a whole video about this on my YouTube channel comparing the must have features of any rental collection tool!

Study and read your local lease templateRead, read, read.Watch youtube videos online of some basic building and construction.

@Jean G.The reality is: it dependsIt’s a numbers game where you need to first determine: what yield do I want and what are the outcomes/ risks involved that could impact thatBuild yourself a financial calculator to understand this but also understand you need to know every process and how much it costs and how long it takes90% upb on a commercial property in a non judicial state with equity and default interest at 15% is a great deal but take that same asset in another state which also has long eviction laws and it could be awfulLastly bankruptcy could wipe out some of your lien depending on the type and how the loan was written.

Some will assist with down payments or closing costs and only require you watch some videos to become a better informed buyer, so win-win.

Real estate is a numbers game, and patience is key.

It's a numbers game for certain so the more you see the quicker you'll be able to identify a good deal.

Any resources or videos (outside of youtube) would be greatly appreciated. 

The other options you are playing with fire as using a HELOC that is paying interest is essentially buying with 100% financing.Having no skin in the game has always been a high risk strategy and people were able to get away with it the past few years due to the money supply and inflation but I would not use that as the measuring stick.

For those of you who’ve been in the short-term rental game for a while, what’s one lesson you wish you’d learned sooner?