The cream rises to the top.  

It's quite possible that you bid on something that looks fine online, only to find out the building has been torn down or burned out - both have happened to me and I've lost money in the process.If you're willing to put in the time, you can make a small return on a few thousand dollars, but you should understand the risks and it is one of the more advanced/legal intensive areas so again I'd recommend consulting an attorney on the risks because you can also lose money, possibly a lot if there is some kind of environmental problem on a property you bid on.If you don't absolutely understand what you're bidding on and potentially getting, if you bid less than 100%, then IMO you should not bid at all.I'll also say that RI Housing typically takes the cream off the top, in that they get first right of refusal to take owner occupied liens at 100% and they go after houses with equity.

All of the amenities, etc. for owners (waterpark, pools, parks, bike trails, tubing hill, rock climbing walls), plus The Village at Sunriver (restaurants, coffee shops, breweries, ice cream/candy, quaint shops , kids entertainment areas, and recreation rentals, are all geared towards STR guests. 

So when a issue pops up, like extra plumbing work or rotted subflooring - you get creamed!

Oh @Mark McGarvey I'm sure this mess is sloppier than a two year old with an ice cream cone on a summer's day!  

If I can get the cream of my market, I believe I am better off than feeding toward the bottom in a market I don't know and is hours away.

We're doing cream colored tile in the kitchen...

Plano, McKinney, Allen, Frisco, and Richardson are all sort of the cream of the crop in terms of rental demand in my opinion.

The cream will rise to the top.

Just ask the guy who owned the ice cream stores where my daughter used to work.Do realize that's just a back of the envelope calculation.