Repairs and renovations will be extra (and are frequently marked up).  

My business partner is currently in Miami and frequently travels back and forth to Tampa but is currently swamped with work so I'm taking the lead on this. 

@Alexis Smith, I saw a very similar post the other day and this same question seems to be popping up more frequently haha.

No crazy expenses, but it is an older space and needs renovated so my cleaner keeps me updated with what needs to be done which feels pretty frequent.

Similarly frequent residence addresses?

As far as "bad actors" dumping stuff down the drain that isn't supposed to.. the best I've figured out one could do is pump the tank more frequently. 

When dealing with smaller multifamily though you may more frequently find mom and pop owners that would be open to seller financing. 

As a frequent guest of Airbnbs throughout the country I think the most important thing is be honest and clear in your description about the property and it's location so your guests know what to expect.

It doesn’t take long for things to get out of control if you don’t manage frequently .

We travel frequently, pay for our own health insurance, have newer cars and are improving our financial position even more in this up market by selling our least liked properties for crazy profits right now…which we use to pay off other previously purchased properties that had higher interest rates to boost cash flow even more.