Any other possitive factors  - stable tenant base  - alarm systems  - regular checks on the property  - no pets  - Lead safe certification  - newer roof, plumbing, electric, etc..Anything to balance off the lossesBe prepared that it may end up in a non-standard (surplus lines) market for a couple of years.If you did not have flood coverage before, see if they will continue the current policy if you get Flood coverage and increase the property coverage deductible. 

I was thinking about this again as I am preparing to sell some properties and thinking about what to do with the proceeds. 

The better prepared you are, the greater your chances of success.One crucial but often overlooked recommendation for someone your age is to work on becoming bankable before your first deal.

But HOA are a whole other universeAnytime people buy properties for STR they really need to have a plan B and C for changes in the market and law... the STR is subject to a lot of changes, so you need to be prepared

Not recording doesn't make it not legit but, you'll need to record to protect yourself.Once you do record, be prepared for the due on sale clause if there is a lien on it.

There's a lot of preparation, a ton of patience and when it's time to strike, very little room for error and a lot of action all at once! 

Be prepared to document where that cash came from - in your case, that's easy, your HELOC.Would be happy to help you with that sort of transaction if you want to reach out - I find a lot loan officers are unfamiliar that this option even exists. 

Good on you for being prepared in advance!  

Financial Preparation: Determine how much you can afford to invest and evaluate your present financial status.

However, we notice it also needs more improvement as some of the results are not accurate or whatever AI you are using and my thoughts about the AI you've mentioned I think it will happen after a long time ago or much better if we all prepare.