In hindsight it we should have gone straight to the studs right off the bat. 

Focusing on downtown development might solve some of the problem, but it also cuts out a lot of smaller developers that could be building apartment housing instead of luxury homes. 3.)

We are extremely selective in who we rent to which cuts down on 99% of the ********. - do not allow 0 review guests to instant book (we will decide whether or not to rent to them based off of their inquiry message)- only host people recommended by other hosts- make sure you have security cameras that face all entrances to the property (also you will need to specify that they are ON AND RECORDING in the listing - just disclosing the locations and that they are there is not enough apparently) 

I live in Austin, TX, so I wouldn't be able to respond to emergencies, but also know how much having a property manager might cut into my profit potential.Would love to hear feedback from anyone who has thoughts on this!

The agency will take a large cut, usually about 40% but they do all of the work.

If you ask the seller to do the work, they might cut corners to save some $$, or take too long.Good luck!

That all makes sense, and we definitely will have a professional help us- I guess I would also wonder, if 40% of the property (square footage) is rental but it is only rented 50% of the time would that be cut in half to 20% capital gains or would it be 40% no matter what the occupancy rate is?

To get my bearings straight, I contact my realtor/mentor with more experience than anyone I know.

It is not absolutely necessary, but it makes keep things straight easier.Also a separate credit card for each house is nice as well.

Are the tenants going to cut grass / shovel snow, or will you need to hire someone?