Many of the deals I've seen with problems are when the GP group was not local or wasn't really familiar with the local market.Ask about capital calls and distributions on their current deals.I have not always practiced this, but I think I will on future deals....no excuse you can't go visit the property before you buy in. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

When it comes to tenant screening, it's important to balance your right as a landlord to protect your property with compliance with Fair Housing laws and local regulations.

If managed well, it can be a reliable way to build cash flow—just do your research on the local demand and regulations.

I will say, with furnished rentals, it takes time and money to fully furnish them with all the bells and whistles but it did allow me to get higher rents... only downside is, if you are out of state, it is not easy to manage remote unless you have a good property manager/company.I have personally started to transition out of STRs due to zoning/town regulations and have already unfurnished one of the apartments to turn it into a long rental for more stable residual income.

Hello BP,I'm wondering if any experienced operators out there can shed some light on best practices.

Many YouTube videos and books on the subject will help, too.I found that practicing analyzing deals was very beneficial. 

*eyes roll* got it.But practically speaking it makes sense.

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

Reciprocity is key to building lasting relationships.As you look to expand into short-term rentals (STRs), research the market thoroughly, understand local regulations, and consider whether you want to handle property management yourself or hire a professional.Remember, growing a real estate portfolio takes time and persistence.