We've only had one resident fail to pay rent, and it was someone who had all the usual red flags, but she also had a sick kid. 

The nice thing about the arbitrage business model, is the companies usually pay you a monthly rent, and then they handle all of the AirBNB stuff. 

It tends to hide marks better.Walls: Neutral tones like SW Repose Gray, Behr Swiss Coffee, or Moore Classic Gray are renter-friendly and modern.Trim and Doors: Use a crisp white like SW Extra White or Moore Chantilly Lace.Accent Walls: For a touch of style, consider an accent wall in soft blue-gray. 

I've heard that Butchertown, Highlands, and Old Louisville are hotter areas and am guessing that proximity to Churchill Downs and downtown are usually a plus (especially for STRs).I'm casting a wide net here in just doing some preliminary research to get a feel for different areas of town, but would love to get connected with some others who have had some experience doing some of these things and have a good lay of the land and are connected with reputable contractors. 

It usually means there are problems to be solved for the seller which will translate to opportunities for you.Keep it simple on your first 2 deals to minimize your risk.All the best.

I looked into the maintenance option years back to discover a trend of:  apx. 8% monthly fee which only included rent collection (everything else from maintenance to turnovers etc, extra, and poor reputation on repairs.)

Back yard landscaping is usually the biggest expense at $5-6k for artificial turf and rock, but doing this sets you apart from the others.

With affordable property prices and a growing rental market, it can be a great option for long-term cash flow.If maximizing short-term rental income is your priority, a home closer to Nashville could be worth the extra cost.

Kind of like a buyer broker I did not have to worry about them going around me extra.

Usually a plumber can pull out the old caulk and re-caulk in less than an hour.