Resolving conflict is so important.

Verifying last 2 years of rental history very important!

As you know, marketing and price are both very important, and vacancy will significantly impact your income, so you are almost always better off charging a lower price and getting it filled with a good tenant.  

Verifying last 2 years of rental history very important!

Quote from @Jessie Dillon: one thing that you can do is have the seller transfer the deed to a living trust that they're the sole beneficiary of, and call the bank to give them a heads up that they're doing it for estate planning purposes. then, a month or more later, buy the property sub-to, and change the beneficiary of the trust. the bank can not see who owns a trust, and if they ever come back and question it, you can just swap the beneficiaries again, show the bank that the seller is still the owner, then swap it back again when they buzz off. this is one of many reasons it's so important to keep a good relationships with the seller if you're buying this way. you have to work together on some stuff.In summary: fraud. 

While the $600 per month insurance bill is hefty, I remind myself that being closer to the ocean would have meant even higher costs.One of the key lessons I've learned is the importance of timing.

Durability is so important—nothing more stressful than scrambling to replace a piece of furniture between bookings!

It's important to know what market rents are for what you are analyzing, many properties are super under rented and you have to get them to market rates. 

The 60% LTV is based on the ARV, and that is why practicing calculating the ARV is an important skill that can be learned over time and with a lot of practice. 

I currently own 5 properties, but am looking to pick up another 2-3 this year, so scalability is important for me.