No STR regulations How did you find this deal and how did you negotiate it?

They tend to have more resources at their disposal for finding and getting tenants. 

You can find one that specializes in STRs. 

Quote from @Alyxus Nerio: Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

It's a starting point for the portfolio, and it's given me the itch to find more!

I would not renew their lease then find someone who can pay their rent on time and will obey your rules.  

Now, you need to figure out how to find deals and pay for them.

@Ricky RigsbeeWe use Michael's analyzer currently (along with other tools) and find it very useful.

I suppose I'll just wait until I find a good applicant and be grateful I won't have a vacancy this time next year. 

Identifying neighborhoods with good schools, infrastructure, and amenities can lead to finding a hidden gem.Myth 4: It Is Only Seasoned Investors Who Can Handle Distressed PropertiesExperience is helpful in real estate, but you do not need to be a seasoned investor to do well in distressed properties.