Ongoing and frequent preventative maintenance is critical.

Make sure its at least a B class neighborhood.A physical visit to memphis and understanding neighborhoods are critical to investing in that city.

Project manage yourself by using Gaant charts and critical path to schedule (refer to the construction sequencing in the book Flip).

It's also critical at this stage to determine if it's worth it. 

@Brett BaginskiAgree with @David Semer and others that establishing your criteria is critical.

To me it's a critical part of networking and staying active even when... you're not. 

You need A PM that has enough experience to have great systems (screening process; movein/moveout processes; interim inspections; handling of service calls; handling of SD; excellent financial reporting, and more), a robust support team (how do they deal with critical staff on vacation or out with illness?)

The first 30 days is critical as that is when you get the boost in search results from Airbnb and VRBO.

This is the critical piece that investors need help with and what I've spent the last year working on solving.

There are several critical factors to consider.