You run the risk of offending tenants by asking them to jump through hoops again just to renew a lease. 4.

Correct - Track all your income and expenses.The bookkeeping will determine whether you are profitable or not.it will also be good to compare from year to year your income / expenses to see what expenses you can potentially try to limit.I.E.

Quote from @Reeti Peshawaria: Hi, I'm in the process of learning about short-term rental investments and analyzing potential markets, but I’ve hit a major roadblock: understanding local regulations.

Investors love to take advantage of this strategy to expand their RE portfolio and have better appreciation potential.

Nothing in the STR space is one size fits all, but the ideas can help others see the potential in their property. 

@Randall King If you find the property isn't performing well, a 1031 exchange would defer the tax and concentrate that equity into something that has a greater cash flow potential, like what @Corby Goade said.

Also, I have yet to see anyone discuss call risk with these.

You'll have a property manager do the management (so you being close to it is not needed).Yes there are risks for some people to go out of state but if you learn the techniques like I have, you'll see it's actually easier and far less risky.

So now I'm faced with the potential of loosing EVERYTHING job, house, car, wife...Finally I stopped focusing on what was wrong and focused on the solutions. 

It checks all my boxes for potential.