First STR Purchase - Existing STR in Blue Ridge, GA

[Charles Wade]

Hi, newbie here.

For my first real estate investment, I am considering an existing STR that is for sale in Blue Ridge, GA. I have run the numbers using DealCheck and no matter what I do, the property shows a negative cash flow

Here are the potential numbers that I am using:

Purchase price = $380,000 ($19,000 below asking. The asking price is well above the market there)

Loan Amount = $342,000 (10% down)

Gross rent I used $150 per night with 60% occupancy (aggressive I know) = $4563 per month

Vacancy = $1825

Operating Expense = $681

Loan amount = $2050

PMI amount = $143

Cash flow is -$137

What am I doing wrong or is this just a bad deal? I am considering this cabin because it is very nice and is already a popular STR property. Appears to be true turnkey

Any guidance or feedback I consider a gift and would greatly appreciate

Charles