To add to what @Jonathan Greene wrote:1) Understanding the local market, so you know what Neighborhood Class your building is located in, what Class your Building is (condition & amenities), and what corresponding class of tenants will be attracted.2) Using all this data to properly set your expectations and a realistic ROI.3) How to better screen prospective tenants, including catching fraud, so your property performs better.

There’s a vacant land/home that I am currently eyeing.

I usually don’t read a post that long, but I always try to keep my eye on the lookout in order to read your post. :-)

(I had additional carrying costs from a HELOC, which meant I walked with around $45,000).Aquisition:We found this deal on a wholesalers website who we keep an eye on.

It won't be long until they catch on to your scheme (some lenders may even consider it fraud), so be careful you don't get ensnared in that. 

I am eyeing an abandoned/vacant property nearby.

The amount of work and repairs that go into it may never catch up for you if you are maxed out on renovation budget.

Networking is very important and it opens up your eyes to even more possibilities.

They prevent bedbugs from entering or escaping mattresses.Routine Inspections: Regularly check mattresses, bed frames, and furniture for signs of bedbugs (small black spots, eggs, or live bugs).Furniture Choice: Choose furniture with metal or plastic legs instead of wood, as bedbugs are less likely to infest non-porous surfaces.Bedbug Traps: Place bedbug traps under bedposts and other furniture legs to catch any potential bedbugs before they become a problem.Professional Cleaning: Schedule routine deep cleans between guest stays, and if you ever suspect bedbugs, hire a pest control professional immediately.Clear Guidelines: Educate your cleaning staff on how to spot bedbugs early, and encourage them to report any signs immediately.These steps will help you set up a smooth, well-managed STR that’s ready to generate revenue while maintaining a good relationship with your LTR tenants.

Real estate is the main investment that has caught my eye right now.