I think chatting with hosts is the BEST way to get sound and clear cut data (given they keep P/Ls, etc.) because I know I've heard from some folks rumor the idea that Airdna skews data a little bit to make numbers look better than actuality to encourage folks to invest in the area & use their platform to see data.

I have little confidence in turnkey providers, deals are already hard to come by, if they take another 20% cut before.. much better to buy a property from an owner that is in good condition.

Unfortunately, Uncle Sam always wants his cut ;)

you start with a realtor Lawyer is for when you have the deal tied up. 

I would protect myself and cut my losses so I was not looking over my shoulder or getting high blood pressure every time I heard a knock on the door (hoping it is not the FBI showing up to ask you some questions). 

Am I not cut out for this?

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

Centralize your back office / use remote employees / VA where appropriate to cut costs and improve service levels / responsiveness.  5.

You might make less, but you cut a lot of costs, make the 1031 exchange easy and maybe worthwhile. 

If they won't let you build on it, explore doing a lot tie agreement so that you can combine the parcels and when you go to resell it, you can ask for a higher price point based on the large lot.