Stay on top of new leads.Practice Deal Analysis Daily.

I use pricelabs as a guide but it takes time "in the market" to see how guests are responding to pricing.

This is a hyperlocal process but you should learn especially if you are going to stay in this business.  

You have to have eyes on your project every day to stay up-to-date and worst case, weekly.

One was a medical professional couple working at Beebe, the other a family relocating and needing a place to stay while their house was built in Lewes. 

If the tenant wants to stay, verify he can afford it.

I’m lucky to have a fantastic mentor who’s been guiding me with advice and tips.

Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.Feel free to send me a private message if you have any questions here.A couple articles you can read that will be helpful:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...https://www.biggerpockets.com/forums/51/topics/1204912-how-t...

Lenders are reaching out to Fannie Mae and Freddie Mac to have the minimum increased, since this is an issue that will not go away as insurance companies raise premiums to stay profitable, and HOAs try to avoid paying higher premiums by increasing the deductibles (or sometimes they need to do both to afford a policy at all). 

Not as much money as Airbnb or STRs but less work than STRs and more money than LTRs, and as someone said, if you've already got it furnished, it's an easy transition.Also, anyone interested, might check out "Erin's Guide to Midterm Rentals."