I saw the potential in the deal and knew that if stabilized correctly, it could become one of the best properties in my portfolio.I purchased this property for $200,000.

Looks like a solid property in a decent area - I would think that at first glance (just guessing) is that the 3 bedroom 1 bath is the problem - thats potentially a lot of people sharing just one bathroom - renters for 3BR homes are probably going to always go with more bathroom options

You also have another option of potentially a cash out refi on the condo depending on how the cash flow looks.

They represent 100% of the revenue potential as well as the loss of lease upon move outs. 

Not saying it needs to look like a magazine cover, but make them appealing to potential buyers if possible.

At today's rents that's decade(s) of net rental income even when taking into account any potential increases.Rents however would get $3k/mo on the high end, and more realistically around $2.6k/mo.

For any reservation over 30 days you really need to have a state-specific lease in place to establish the lease terms and protect you from a potential squatter situation.

Oh, and I guess c) I like to occasionally take my young son with me to check up on job sites so there is that too.Some good tips though, and I agree, sometimes it's worth just doing it yourself because of the turn around time and potential loss of rental revenue.

Quote from @Michael Ancona: Research all the it's and out's of DSTs before purchase Yes and I highlight the potential risks here. https://www.biggerpockets.com/member-blogs/7993/73161-what-a...In my firm, we underwrite the Sponsor as a company in addition to their individual offerings.

With the number of available properties being that low you could honestly analyze every one of them so the specific zip codes and areas aren't as important as if you were looking with criteria that offered hundreds of results.I'd recommend getting on the list for some local wholesalers to help and increase the number of potential properties that you are exposed to.