They buy properties directly and passively manage properties relieving them of business risk while getting a stable cash on cash return of 15%+ per year.The hospitality sector is not a low margin business as far as STVRs go.

I also own properties in landlord-friendly states where there's no rent control, so I don't need to pay someone to leave in order to increase the rent.To address the other points in your post:This is why having a proper purchase and sale agreement is so important.

Airbnb is also exceedingly easy to get an idea on what 3BR comps in the area are getting for their weekday/weekend ADR, cleaning fees, as well as seeing if there are common check-in/check-out times, minimum stay restrictions, and how booked up their calendars are, especially right now heading into the back half of the busy summer season.As far as the what kind of legal structures to use for this property, there's so much noise on social media about stuff that just doesn't matter or apply to most people, so I wouldn't worry about overcomplicating your purchase with trusts and holding companies at the beginning. 

Lots of times, because the loan amount is so small, they will charge extra points to pad their fee.

As far as I know, SmartMove provides a Transunion credit report but it doesn't give you the FICO credit score.

Great click bait and it is so true.

As far as a company to use for skip tracing, find one that has flexible pricing and no high-volume minimums if you're just starting out.

Any pro tips you can share as far as vetting tenants or collecting rent? 

Does it really make sense to use hard money loans since the rate is so high?

The only reason would be to try and find something better, and I don't personally see anything that is, so I choose the property we have.