They call the person that brings the schedule of real estate, net worth and liquidity to the deal the sponsor or key principle.   

This is key to being successful.

Hey @Thanh Lu, so if you only have a couple of units, then self management isn't that hard.The key to doing it right is setting it up properly and keeping up on maintenance.I can count the number of late night calls from guests on one hand.

The key is to offer something different to the other homes, and be an attentive host, to get good reviews to boost OTA (Airbnb/vrbo) rankings. 

The first hurdle was convincing them to leave via cash for keys.

Off-market deals are key if you go this route, so networking is huge.Out-of-state investing is another option people love, especially in markets like PA (Philly, Scranton) or even down south where prices are lower, and the landlord-tenant laws are more forgiving.

It makes complete sense to focus on one to a couple of key markets initially.

(that means I work for Airbnb as an independent contractor, a paid, by Airbnb, consultant to new Hosts).Here is my "tip" that I send to new Hosts:"Pricing is key and worth doing some homework.

The key is understanding the nuances of the program and making sure your property aligns with their inspection standards.In Detroit specifically, Section 8 tends to work best in C and C+ neighborhoods.

I added value to the property by focusing on key renovations that aligned with the tastes of Hamptons buyers.