Definitely something I will keep in mind for my first property. 

So yes, it's definitely something you need to be careful with.  

Gives you double protection if something breaks from a direct booking and triple protection from a guest coming in through an OTA.

I don't think making this a nice remodel is going to help since you're likely not attracting the caliber tenants that's willing to pay more for something nicer... that tenant is looking to live in this area.Now, if you went the Section 8 route you might be able to push to the $1,300 - $1,400/mo range.

I did that, but its always better to have someone guide you to start something.

Overall, it looks like a good deal, something you could probably even take to a local bank or credit union for financing.

This is something a lot of people need to read going into flipping..

I've got something to gain.

Compare yourself to these but do something extra to make it stand out.

I have just read a book about this, and a business owner spoke about his employees who would take "multiple taxi trips in one day" or "dine at the most expensive restaurants even when alone" its just something that will happen.