Some of them might have knob and tube electrical and I've owned one where plumbing was fine (all copper) but with the lack of insulation in an area those lines would freeze in extreme cold temperatures. 

Any tenant who shows any hint of late payment, default, or other lack of financial obligation you need to start marketing....In fact put that in your next lease. 

I think the lack of cash flow and delayed return would be aided by the fact that they would get their investment out at the first refinance, and the fact that I would take care of returning their investment before paying myself.  

I have been trying to educate myself online but it’s definitely lacking on finding solid advice.

In fact, I would even argue that it was their lack of operational knowledge that got them in the predicament in the first place.*** You can follow more of my thoughts here:)

Create a community about how you will change their life or lifestyle.As someone once told me:in absence of a product, an idea will usually be sold; when the idea is lacking, a lifestyle is pushed.

This is an interesting - and widely ignored - issue.Everyone complains about the lack of housing in our country.

It comes with a lack of sleep, paranoia, fear, and anxiety, but so does all high risk investments. 

And the lack of issues when using VRBO means you save a LOT of time and money...every little issue sucks your time and energy, and energy/time=money.

I would look near Trillith studios in Fayetteville, as it’s out in the boonies, nicer, and might lack competition keep in mind your target market makes $15/hr when looking at price points