Most STR markets have seasonality, and there are untold issues in the future that will effect cashflow. 

Follow the step for the deposit-even if it is to send a registered letter to their last known address stating that the deposit was used for outstanding rent and whatever damages or cleaning was needed (itemize it). 

I use a channel manager (OR) and it has damage protection built in.

Half of the PM's down here can't read contracts, don't know how to inspect a property for damage, etc. - they just use whatever contractor is giving them the most free stuff at the time.  

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

From experience, finding a knowledgeable accountant is key for handling taxes effectively, especially when splitting expenses, claiming deductions, and managing depreciation.

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My interests lie in all areas of real estate, and I am eager to explore potential opportunities and gain insights into effective strategies.

You should definately expect a good ROI, but I dont' have data to show how that would effect it would have on revenue.