I found a PM called Hostex.io for the STR so far so good I could not believe the very low annual fee which was less than $90 a year.

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

They must provide quality service, or their clients won't want to pay the price.

I have section 8 rentals in great areas and I almost forget they exist sometimes because of how long term the tenants are and how low maintenance they are.

You may not need to visit each property you buy in that area though.4) Unless you are buying Class A turnkey, you should have a PMC.5) See below copy & paste info:-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You can also gain valuable experience virtually and offer low or no cost "co-hosting" services.

Completely agree with you on this; I'm not making any claims to the quality of these lenders here.

As a result, inventory levels have remained historically low, particularly in markets where demand is high.

Maybe I'm no longer a low risk bond investor, maybe I'm parking my money in $VOO instead, CRE REITs, or perhaps higher risk higher return bonds. 

Cities with limited land for expansion have higher appreciation than those with abundant, low-cost land where new construction is preferred.