Affordable markets in growth regions, like the Midwest or Southeast, provide excellent opportunities for ROI while minimizing upfront investment.

It is my understanding that people refinance and then use those funds other ways (personal living, investing, some to buy another property) as a means to minimize tax obligation. 

., but for now, we like to only consider semi-stabilized (with minimal deferred maintenance) or fully stabilized, cash-flowing properties. 

Quote from @Andrew Steffens: Sorry about your frustrating issue - Airbnb is not only guest friendly but most of the time they will be the one paying for damage so they are going to try to minimize you. 

This increased demand is in areas that all ready have limited supply.Since the rates started to rise, my appreciation forecast has been conservative (as I have indicated in numerous posts) for my San Diego market (I have been underwriting at zero appreciation near term) and fortunately for me the market out performed my forecast.  

Those can indicate poor management, deferred maintenance, difficult and expensive upkeep like ocean front which will bring up issues with rising oceans, insurance, and hurricanes. 

The down payment wouldn't be minimal if your finances were tight.

Not necessarily turnkey but should need minimal repairs if at all

A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

Everything presented indicated I was investing directly in the deal, however it now seems I was investing in DFO and DFO was investing in the deal. - Investor reports were either not received unless I asked for them, or they were received 2-3 months late.- K-1s were not made available until mid Sept every year.- Communication is poor, I have to repeatedly chase for updates.