We have an STR beach home in South Padre Island. 

We own three 2 BR/2 BA condos in a beachfront building on Okaloosa Island (Fort Walton Beach, next door do Destin).

At my largest property, rent due dates stagger, because they are set to be on the day the tenant moved in, rather than all at the beginning of the month.

Many of our clients that are looking at STR are also looking at MTR as Charlotte is currently top 20 in the country for traveling medical professional demand (furnishedfinders), and we are currently one of the largest cities without a medical educational institution. 

One said only 2 of the largest 100 cities was it initially cheaper to purchase than to rent.  

It can eliminate or reduce the largest expense most of us have.

Apply your cap rate and you'll generally know where pricing is landing.

They are one of the largest REIAs in the county I believe.

I'll split this post into two parts based on your question...NUMBER 1: OBTAINING POSITIVE CASH FLOWIt comes down to many factors, but a few key factors that I have found that have the largest impact on the property's cash flow are below (The below generally holds true for any market.

I can be sent to any of 8 cities in Madison Wisconsin, Rock Island Illinois, Waterloo, Des Moines, Dubuque, Cedar Rapids, Fort dodge, Sioux City Iowa.