I haven’t dealt with one on any of my deals while in my time lending but on the residential side gap funding comes up on a weekly basis.

Mindset is key and just know that this is a business and you would be actively seeking clients and every day you wake up your working for the paycheck you receive in 30-60 days.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

Been there and done that too.Used to manage 20 units with Section 8 while owning 10 units of my ownAfter 3 months I saw how much more time I was spending on the Section 8 tenantsThe 20 units took up about 4-5 hours of my day EVERY DAY.

Everyday that the property is vacant you lose money that can never be gained back.

I'm concerned that if I place an ad to find people who will work on an hourly basis (in the area of the property) that I might have a hard time finding people who can reliably respond to emergencies during off hours, but I can't afford to have someone working full time or with standard on-call rotations. 

His hint was that it is the responsibility of the contractor and PM to make sure it is secured as they knew I was not in town on a regular basis.  

As others have said, it doesn't really make sense to run calculations for STR analysis on a monthly basis, just use annual revenues.Get signed up with a pricing software and use the market analysis tool.

Austin is correct, a cost segregation can help you break down the depreciable basis of the property into personal property (5 year), land improvements (15 year), and buildings (if any such as clubhouses, laundry rooms, etc.).  

This can result in increased depreciation deductions in the early years of ownership.Partial Disposition: When a component of a property is replaced or disposed of, you can take a partial disposition deduction for the remaining undepreciated basis of that component.