Now, let’s uncover additional details about the top-performing Airbnb listings in this particular subarea of Okaloosa Island.The chart above shows a table containing the top performing listings in Okaloosa Island in the past 12 months.

glad BP has uncovered this scam.

I'm sure it's most likely frowned upon but on the smaller scale apartment buildings, during due diligence has anyone ever tried speaking with tenants to uncover any existing conditions or deferred maintenance problems they may be facing? 

Unfortunately for anyone looking for these investment groups, it is still a "who you know" game, or at least becomes a lot harder and entails more networking, typically higher buy-ins, and/or lots of research to uncover these groups.

Get a property inspection: As you mentioned, you will need to hire your own inspection company to inspect the property and uncover any potential issues that may affect its value or safety.4.

Purchasing from overseas, I made my offer based on the advertised info and, believe it or not, did not uncover that 2 of the units were just 1b/ 1ba until after due diligence. 

Sometimes talking to locals or joining real estate investment groups can uncover hidden gems.

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

They will have their quirks and you might uncover things as you get into it so be conservative

A mix of determination, perseverance, and a bit of luck can uncover hidden opportunities in unexpected places.