I aimed to provide more value than other Airbnbs in the area, but that also meant higher expenses on my part.One of the reasons I sold my Cancun property was the lack of room for increasing nightly rates.

It's much easier to rack up  material hours if you are nearby and able to take on some of the timely hands-on work yourself.I imagine that others have tried to do this while OOS investing but I couldn't speak to their success (or lack thereof)

This space is also getting competitive, but you could try listing for monthly stays only on Airbnb, VRBO, etc.

Also you want to look at the competition. 

Their lack of cleaning is causing additional wear and tear on the property. 

Of course, many find that they are up against competition here, too.

@Timothy Blackman- thanks  ...get some referrals for lenders from friends / co workers ...contact them all on the same day with the same criteria and ask them any questions you have and  ask for some scenarios ...compare the  feedback and service they provide ...pick one lender to get pre approved with ,,once you have a property - contact all lenders again for pricing options for the actual loan you will need ...hopefully the lender you chose for pre approval will be competitive in their pricing ..good luck

There tends to be less competition from every day home owners who need to move in the spring/summer before the new school year starts and thus the possibility of having more leverage on sellers.

But as an investor I see that as a high level of competition in a market that doesn't have enough draw for families (mine, at least).2.

I tried but the lack of income on the property is a no go.