For starters, you'd want to consider the location and general age and price of properties in the neighborhood, ratings of nearby schools, amount of crime, vacancy (homeownership and rental), plus grocery stores and shopping centers nearby.A lot of this info can be found online (e.g. school ratings, crime maps, property age, grocery stores and shopping centers), while some of it can be determined by driving the neighborhood and talking to folks that live in the neighborhood.Asking police about a neighborhood might give you some objective info on crime, talking to property managers might give you info on vacancy and rent prices, and talking to a real estate agent might give you info on property age and price. 

If the tenant fails early on before you resale money can be lost.Additionally whether you reface a building or tear down can depend on age of the vacant building and what it would take to attract a new tenant.Example if you are getting the land and the building for dirt cheap then likely a mom and pop tenant would go in a decades old building with just some paint and other things to open up.

I wouldn't allow someone local (say, from Knoxville or Chattanooga) to book for a single night, I consider that a red flag, and as much as possible don't allow people under the age of 25 to book, especially for a single night. 

I'm 22 years of age with no REI experience, I live in Vegreville Alberta, and I work for a building supply company.

Hello guys, Im 20 years of age and currently i have pretty decend paid job (more than avarage sallary) plus im still leaching of my parents so i live rent free, i will live with them few more years so i wont need to pay rent and i will be able to save some money.

They are generally not caused by tenant quality issues; however, items such as flooring and appliance replacement certainly can be. 10% seems high, but I don't know the condition or age of the building system components, and hey, at least the pro forma assumes worst-case on this line item.

Paul in the 60's. my grandmother has been living in it since it was built but she has reached the age where she cant live alone and everything is falling apart in that house, so she moved in with my uncle.

 From what started with a mere $28,000 single family home just two years ago has now grown into a portfolio of 40 rental units. Shortly after moving back to Indianapolis where I grew up, I began shopping for inexpensi...

Also, keep in mind that HOA dues seem to only increase in costs even when the value of the complex is going down due to age and other factors.You can buy condos here in AZ for under $200k in Scottsdale, but the HOA dues are over $1000/month!!

Mostly from my salary, but I also own two SFH which I rent for $1300/month each with mortgages of around $800/month, including taxes and insurance.My goal is to retire by the age of 35 and focus my energy on either owning an apartment complex or commercial real estate.