Figure out what your minimum daily rate is based on the costs of running at 60% or your specific market's low season, including repairs, supplies, and periodic replacements, so you don't end up paying for folks' vacations!

What were some of the biggest lessons you've learned when buying your first MFH investment?

@Justin Melendez All of the data I am pulling is coming from AirDNA but that is mostly to run income projections and to ensure the daily rate is set correctly.

I’m 17 years old I turn 18 in 4 months and I have read 3 books about financial education and real estate investing, I listen to lots of podcasts and YES I READ RICH DAD POOR DAD, I also invested my hard working earned money into a real estate investment course so that I can at least use to keep gaining knowledge on daily basis .

These same tenants are submitting daily complaints requiring repairs to the property.

After months of learning everything I can about Real Estate Investing by following the  forums, listening to the podcasts, reading the books, attending the webinars, and talking daily to my mentor, I felt it was time that I needed to take some action as experience is life’s greatest teacher instead of falling prey to “Paralysis by Analysis”.

I listen to bigger pockets daily.

It's good practice to learn how to average, quarterly track and update hard/soft costs of operation such as water, sewer, trash because IF you ever want to scale up into commercial side of things (5+ units) than this practice of mean averaging will be a daily norm.

No onsite staff needed, just a daily cleaning service. 

Here's some quick and timely guidance from the BP Daily podcast : https://podcasts.google.com/?