The supply of sub $200k SF properties is limited to existing inventory, as new construction starts at about $300k, with the majority in the $300-$500k range.

It is difficult to add new supply to the market in many coastal areas.  

This way there are extra funds in case of delays or needed architects plans or city mandated extra work like Wired smoke detectors or running a camera through the drain to the street that was not in the budget or time schedule.

At least with stocks you can cut your losses and move on, but not so with a mortgage.In central NC, there is a lack of supply and high demand, especially now during the summer.

Hook up with a few investor friendly REA's, and let them supply you.The bottom line of how comes from your answers to three questions you should ask yourself before you go any further:1 - What are your financial goals...as in your financial needs monthly and for total payoff of your personal debt.2 - What Market (Micro-Market actually) will deliver properties with financial profiles that will satisfy the needs from Q#1.3 - What Entrance/Exit Strategies (this refers to money...not "flip", "hold", "land contract", etc...) can/will you use to deliver the above 2 Questions.Only you can answer the above three questions, because they are specific to you....and a hint:  None of the answers involve a "%".

A few things to know:All short term rental hosts must submit an annual registration form, register with the Revenue Commission, post an evacuation plan and meet smoke detector requirements.

I used bleach, ( bleach and urine make a lot of ammonia) , I rinsed it off and then put down huge boxes of baking soda spread on the floor and let it dry and them broomed off.I used gallons of peroxide I bought from a beauty supply place and poured that peroxide full strength on the floor and let it sizzle.. it helped open up the pours in the concrete so the ammonia from the urine would neutralize. 

I painted, installed laminate, tiles, fixtures, plumbing etc...I have no pets and don't smoke.

I have smoke detectors in all units.

Post licensing/continuing education costs, marketing/supplies costs, suprakey subscription (or whatever equivalent your association uses), etc. etc.