Which then in turn consistently having 5 star reviews can increase your nightly rate.

I understand that appreciation certainly helps an individual build equity, but I also am attracted to consistent cash-flow with a steady (albeit possibly slower) appreciation growth. 

Keep good track of communications and do not sink to his level if he gets nasty.

We are in a small market so we were very surprised to consistently fill 4 and now we are looking to do 4 more. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

The core 4 consists of a realtor, contractor, property manager, and a lender.

Last time I used them it was quick responses and communication and now I cannot get in touch with them is anyone else having this experience?

I don't number my properties (I don't own anything anymore I don't want to keep) but I do keep tabs on my net profit independent of income taxes on each unit because if a unit starts to slip I need to know if it can be salvaged (have I been consistent with rent increases?

Clear communication and legal safeguards are essential for a successful partnership.

You said you are new to real estate investing but you have a background in residential real estate - what does the background consist of?