I have managed STRs for 10 years in Los Angeles, so I understand the business and operations.

Understand entity structuring and what is best for you, especially if you are going to do flips.This post does not create a CPA-Client relationship.

No one understands (except the PM) why it cost $100 to send the maintenance guy to change $3 worth of batteries. 

I don’t think you understand how ranking system and first page works.

I believe that financing is a great way to put your cash to work for a nominal return if you understand the business.How did you find this deal and how did you negotiate it?

Also look at the rental laws in the areas you are considering, just so you understand what you are getting into and whether you are OK with them or not.

Determined to avoid such mistakes in the future, I earned my real estate license to better understand the buying and selling process.

Ensure you understand local regulations regarding permits; it’s usually a good idea for your associates to form an LLC for liability protection, but individuals can do renovations as long as they pull the necessary permits.

In areas such as NYC the market tends to be a little lower, from what I understand.

A good mentor will help you evaluate things and identify potential hurdles before they come into play.People fail because they think it's easy without understanding what the difficulties can be.