My view is that when you self manage an STR being responsive is critical.  

That's where cash reserves are critical. 

It is amazing that folks think appreciation is the icing on the cake .. when in fact its as critical a component to investing as the cash flow..

These include:Get started faster: Let’s face it—while reading articles like this and absorbing all the podcasts and books on real estate investing is great, jumping in and actually doing your first deal is critical, and what you learn from experience often dwarfs knowledge from all the research sources by far.

Since I purchased the home I made critical updates like new roof, windows, new exterior paint and landscaping.

The rental values of homes are the critical piece of the equation. 

The numbers are absolutely critical.

Having a good HML partner can be critical to your success when sourcing deals and needing quick capital to close.Good Luck!

Since in Riviera Maya there are over 400 pre construction at the moment, it s easy to purchase or sell but what s the quality, history of the builder, where I find an attorney and so on very critical.

I hear their land lords didn't drop everything and fix their toilet handles immediately either.Set expectations up front is critical, because if people know what to expect they are less anxious.