You need to really dig into everything you want to include and what expenses may be associated with that.It is also worth noting that vacancy and property management costs are both likely to be higher, and vary month to month as income fluctuates with the season (you can charge more for an STR at Christmas than some random Tuesday in March). 

Importance of having a solid lawyer for investments overseasConstruction materials fluctuate-important to build in cushion Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

All my properties are cash flow positive and my FICO fluctuates between the high 700s and low 800s.I'd like to find a lender who can facilitate all my new properties.

@Evan Polaski I guess I'm just too much of a coward to go long on the stock market no matter the depth of my pockets :) Nobody has a crystal ball to know where the stock market will be in a month or a year as it fluctuates with market sentiment. 

I think no matter what you choose to invest the most important thing is to know the market will have fluctuations.  

I always make sure to keep about 6-months of buffer to account for any fluctuations, vacancy, unexpected expenses, etc. 

(again, this is highly subjective) Or is he saying each property is too highly leveraged (i.e. very little equity in each home making the property value more volatile subject to market fluctuations).

Every neighborhood has big fluctuations in rent price, depending on amenities in building or apartment.

On the other hand, should you decide to go with the “Fix and Flip” option, then you will need to have a good team that understands business with strong boots on the ground.Moreover, you should evaluate the supply and demand trends within the area you intend to invest in, as the market can sometimes shift or fluctuate.

It will likely depend on the value of the holdings to the loan amount sought and historical fluctuation in portfolio value.