Take a look at how far in advance people book for high season so you don't miss any lucrative bookings. 

Example of one I have when I lived in a different state. bought from a highly distressed seller for 10k cash.

The judgement you get from the court gives you the power to potentially collect.

If so, I would highly recommend attending local meetups.

To help in your search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

IMO - 9.5 is way too high to take seriously as a buyer. 

Expenses do not included management fee as it is self managed but other then that not so low. it is the rents that are relatively high.

See the table below which compares what is on an MLS data sheet and what an investor needs to evaluate a property.Below is a high-level summary of the tasks an investor needs to accomplish.

The risk of negative cash flow here comes from the high leverage though, not from the market.

That being said, like most things with being a landlord, if you are a decent person treat your tenants like people, remain communicative and respectful, make necessary repairs, it is highly unlikely you will ever get sued or anyone will ever question if you did everything by the book.