Markets, geoglobal conflicts, recession, inflation, jobs can all affect that but time will tell. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I feel like it would be great to trust a property management company on all of this, but it would be hard not to step in if you could do a better job at screening bad tenants (eg screening HUGE future problems).I initially managed properties myself, but now I delegate that responsibility to my business partner, personal assistant, or a property manager at my brokerage.Most PMs I know will send you an applicant for final approval and you can get on the phone with them and ask them questions

I have run them before but not my day job.

As I addressed in another discussion, most money in real estate is made by long term appreciation and by improving, repositioning, and stabilizing the property, NOT thru purchasing at a discounted price.  

I like the strong infrastructure investment and overall job growth trajectory in these parts of Williamson County.We're also seeing similar job and infrastructure growth between Austin and Bastrop mainly thanks to Elon Musk's investments in the area.

Improve the property2.

If they are changing jobs, they need the new job first and you need to paychecks or offer letter with salary or maybe even the first two paychecks at the new job, depending on their level and income.Ask them about deposit and rent. 

Out-of-pocket capital improvements and repairs anticipated during the first year12. 

For my short term rentals I am really going to focus on adding improvements that will increase my daily rate and guest experience.