B type properties are frequently rented by locals looking to party.

It isn't the 1% rule but I have long term tenants in place, it rents for 2k per month and I self manage (it is from a distance but I make frequent business trips to the area).

@Sachin MaskeyIf you decide to work with Anderson Business Advisors - make sure to discuss pricing before you sign any contracts.Many members of the biggerpockets community discussed pricing as a concern, especially for a person just starting out.You may want to consult with a couple CPA's that frequent the BP forum often to see if you connect with any.

I'm sure you know the market changes so frequently that being able to access data like this that's updated would be helpful.

Our journey in the STR space began in 2017 when we were attempting to buy a cabin around the Great Smoky Mountains National Park (we have family that live there and we vacationed there frequently). 

If we are putting in the contract in before we know the cost of repairs, how frequently do you feel we go back to the negotiating table because we really have no idea what the cost of the repairs will be?

I'd be open to it.Charge higher rent.Upgrade your insurance.Require the tenant to add you to theirs.Use a month to month lease so you can boot them if it isn't working out.I have no experience but I'm pretty sure air BNB has their own insurance to cover a lot of these what ifs.The STR will be cleaned a lot more frequently and get less wear and tear than a normal rental.

More frequent inspections perhaps, raise the late payment fee, make sure your lower quality prospective tenant is better educated, and make sure your rental agreement is bulletproof.

Another idea is to frequent the Q&A websites looking for investment related questions, see if any of those spur some ideas.

I frequently tell peolpe that a membership in our group is just like a gym membership.