This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

Stay in and be part of this 721 or lose my investment most likely.

if you buy a random property in a neighborhood you've never been to and turn it over to people you don't know you'll just lose money.not trying to be negative, trying to protect you and your hard earned cash.

This requires consistent oversight and experience, which most investors simply don’t have.The Bottom LineIf you want to lose money and risk expensive legal fees, go ahead and self-manage.

Are you able to use it easily, only with a HELOC.If you lose your tax deductions, then Uncle Sam is happy to take more of your money each year.Good Investing...

Mailing/emailing a notice to "start the clock" doesn't cost much and should be done to NOT lose time if tenant doesn't pay.

You cannot wait for an owner to fix things, you will lose bookings.#10 CONTRACT - make sure what you are doing STR is listed in the contract - typically in the addendum section.   

Have you ever heard of a Landlord being sued by a Tenant and losing property?

If you reduce to $2,300 and are able to fill the property faster, yes, you are "losing" $100 per month, but even at that rate, it would take two whole years to equal the loss of the $2,400 vacancy month.

Makes complete sense to purchase a property that breaks even or loses money.