Monitor your investments on a regular basis; keep track of costs and profits; watch the market trends to enhance your portfolio.Good luck!

If you plan on managing it yourself, you want to be close to monitor any improvements and get familiar and comfortable with the entire process.

Property Managers are just like tenants: you need to know what a good one looks like, screen until you find a good one, understand your contract, monitor them, enforce the contract, etc.

Time would be the biggest variable.Assuming the same repeatable services will have to be provided for STR & MTR, that are not provided for LTR, the costs may not be that different.Taking care of lawns, monitoring & paying utilities, taking calls, etc.Some services will be the same, but vary in frequency: cleanings, resupplying amenities, responding to inquiries, bookings, granting access, etc.

Planning on enforcing fines and using a camera to monitor the area.

#5 is one I haven't done yet but have concerns about idiot tenants who won't replace the battery on the smart lock and then say they can't get into the home #10 There are now water sensor IoT devices that can definitely help monitor floods and have been shown to be well worth their while for anyone who owns apartment buildings as they reduce insurance premiums and help prevent huge water damage claims

Based upon your statement, "Naturally, my heart goes out to this individual" is indicative that you may let emotions trump logic.Forward to your PMC and monitor their actions to start eviction ASAP if tenant is behind.You can also direct your PMC to offer to let tenant out of their lease early IF they cooperate with showings.If they fall behind, you can direct your PMC to offer Cash-for-keys to regain possession faster. 

And while years will have to pass before we can really understand the nuances of what leads to losses in each deal, and how to parse out what is due to gross negligence, what is due to incompetence, what is due to fraud, and what is due to bad luck, there are decisions that GP and LP investors have to make right now, to get the “least bad” outcome in a given investment.Some GPs are trying to raise capital via capital calls.

In the beginning, we also handled this manually, but currently, I have settled on using PriceLabs and doing a lot of manual input and monitoring on a daily basis.With that being said, I have discovered that to be successful and get the absolute best revenue from each home, you need to adopt different strategies for different seasons.

I like the idea of WiFi so I can monitor how much it is getting used and the costs of operation.