I'm with you that sidewalk slip and fall litigation may be less likely in the Midwest than say Mid Atlantic which tends to have more litigious cities but dismissing premises liability issues can come back to bite an investor and when these properties have such razor thin margins that an investor must consider the cost benefit analysis of safety against ROI, there is a real estate issue and is usually a losing proposition.   

Most other things are worth attempting to resolve yourself after ensuring safety and doing research.

Look at things like safety, schools, local amenities, and the overall vibe.

I wish that I had prioritized having a nicer property, as opposed to one that looked great on paper but needed a ton of work.

Quote from @Kislay Shah: To identify a proficient real estate CPA, investors should prioritize professionals with a proven track record in handling real estate portfolios, transactions, and tax planning. 

Prioritize your financial stability.

This can drastically reduce the property's value and cause unexpected headaches.I’m curious—what features do you prioritize when looking at short-term rentals?

My suggestions:* Requiring code compliance and safety equipment is absolutely valid and should be part of the regulations* Requiring owners live within 15 miles is not necessary since poor hosts whether they're local or distant will violate the 3-5 warning system and earn a suspension.

Other software also has bank feed integration, automated income tracking, receipt scanner, accountant-approved reporting, etc.Of course, it totally depends on what features you prioritize! 

I avoid cash as it is a safety risk to have large amounts on hand.