Regularly monitor your investment property's performance, stay informed about market trends, and be prepared to adjust your strategy accordingly.

(These depends on how much you want to provide) Linens (people generally underestimate linens big time, depending on your type of STR there can be high turn over of linens) Software (smart pricing, video monitoring, automatic messaging, PMS, noise monitoring).

I’d add to the cons that contractors can be turned off to the necessary monitoring and stagger payments that come with the 203k process.

First hand experience - Learning in your backyard is the best and easiest way to get your hands dirty, learn how to communicate with tenants, monitor your investment, repairs/handy fixes, etcTalk to a local lender where you plan on investing, I can give you a few recommendation since I work in PA and NJThe lender will be able to tell you what you need to qualify for a mortgage.

Follow up due to non payment by the tenant, proper maintenance, key monitoring (I hate keys!

Water can be a property killer if not monitored.

By utilizing this robust system, landlords can easily submit maintenance requests, monitor the progress of repairs, and stay updated in real-time.

The MIBOR form is copyrighted and strictly monitored for those who are not authorized and granted permission to use.

Monitoring as well.

Ideally, I'd like to start off with purchasing a light fixer so that I can force a bit of equity but am also a bit hesitant on this strategy given that I won't be able to 'closely' monitor any rehab work being done to the property.