I have my eye on a couple of small places that I am interested in for Air BnB.  

I have my eye on a 4 plex I'd like to buy, renovate, rent, and hold.

Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

My tenant had a medical emergency several months ago and is now in a long term living facility (simply put, she can't be on her own).

Keep an eye on your debt-to-income ratio and overall leverage to avoid overextending.

. :)Keep an eye out OK? 

You do have time and motivation and muscle, but sometimes these turn into a lot more work than meets the eye. 

There's less listings but less eyes on properties.

The rest, is really just predator protection, how to not be a juicy rib-eye out wandering the savannah tempting a lion to pounce, and/or putting a moat around things so it's a whole lot harder to near impossible for them to do so.

Specifically, we've got our eyes on some really cool neighborhoods like Buford, Midtown Alpharetta, Johns Creek, Aerotropolis, Peachtree, and Lawrenceville.