If the tenant is not cooperating with your due intelligence then I guess that sort of says something before you even start.Since you get to look at the lease that is already in place ensure it has provision in the lease that are of high concern to you.

It's tough to screen a guest but if you charge a premium you'll usually get older more responsible guests…Key to making a vacation rental work is to ensure your reviews are near perfect, your cleaners are reliable and understand you run a mini hotel, your customer service is excellent, always be available for questions and respond quickly, offer more amenities then the competition, set up systems to where you have "canned" email response, rental agreements, check-in instructions, condo/local area info book/powerpoint!

Banks, hedge funds and other big players are paying huge premiums.  

That ensures 12 months of income and decreases the chances of losing money to vacancies.

It's your responsibility to inspect the repairs and ensure they were done properly.

Solution #2: Hire a MentorIf you’re new to real estate investing, you probably don't yet have enough knowledge or experience needed to analyze a deal and ensure you’re paying a fair price for the property.

all the big players pulled out.  

As an Army Veteran, naturally I started there and quickly discovered some of the perks.1) Guaranteed rent through BAH - (Basic Allowance for Housing)2) Ability to hold tenants accountable for damages - I'd request information regarding their assigned unit and contact chain of command if issues arise. 90% of the time CoC were willing to get involved.3) Additionally, Soldiers have mandatory housing inspections to ensure cleanliness and quality.

They require you to confirm that you are a landlord but after you are all set up you can perform intensive background checks, credit checks, and criminal history checks to ensure that people are who they say they are.The other part of the battle is pricing your unit right so that you draw the people you want in, and setting up good tenant criteria and not bending on those rules.

I've since gotten my RMLO license and am processing seller financed buyers for all the major seller financing players in DFW and have transacted over 250 properties in this last year and a half!