My motto, "Honesty, Integrity, and Accountability," has always been my guiding principle—not just in business, but in my personal life as well.

You can expect turnover costs, losses due to vacancies, and other expenses.

Just my personal opinion - get a mentor or a person who already has good experience running STR business, preferably in your area (but not 100% required). 

The program has been great for my own STR investments and my co-hosting business.

Reverse 1031 Exchanges are more complicated and have higher costs, but can solve these problems. 

Your net gain is your net sale, minus your adjust cost basis.

I've picked up several really good deals because a tenant operator ran the business into the ground to a point where the property owners just wanted or needed out. 

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Some go out of business.

Be honest with them if that is what you are doing though so you don't waste their time if they are busy.