Rehabs can also take a little longer or cost a little more than we think so having the extra cash on hand helps me sleep at night. 

Most our owners just wanted to have a cabin in this area that they can go to and then rent it out the rest of the time to cover the mortgage and hope it appreciates.The best ROI is 1 or 2 bedroom condos, or cabins that have 7 bedrooms or more and sleep 34 or more.

They're not cheap, but I sleep very well at night.  

When it's you vs. a vagrant the police ain't gonna be asking for no deed if you know what I mean...We had one decide our second floor common area hallway was a good place to sleep and hang out at night.

We leave treats from a German bakery at our vacation rental - Lake House.We don't leave anything at our PF vacation rental (mountain house) that sleeps 23 people.

It continues to produce money while you sleep, vacation, work your W-2 job, etc. 

I typically look at value add for STR by either adding additional sleeping possibilities by transitioning spaces or upping the number of amenities. 

Ok, got all the babies to sleep!

I'm chuckling because I once showed a tiny condo to a man who claimed to be a truck driver, who would only sleep in it a couple of nights per week, it would be cheaper than a hotel, for some reason he thought that meant he didn't need a background check.  

(Reason being my interest in building equity if I sleep on acquisition activity or whatever.. it just makes sense to me :)) This aspect requires me to stay closer geography to the NYC metro area, or so I THINK.