Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Calculate how many rentals would equal the purchase price.Next, think about your personal tax situation.

I have not heard of an extension as of yet.Your 100 hours is related to material participation for STR not the real estate professional status, they are two separate items but in a way can be connected (kinda).I'm not sure what you mean by "sell it for no bonus depreciation recapture" because you are required to take depreciation, if you don't the IRS should calculate your tax as if you did.Your head is in the right place and I wish you luck but would highly recommend consulting with a tax professional before proceeding if this is your plan.Best of luck Dennis!

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

How is this calculated?

This is my first investment property, I plugged everything into my deal analysis calculator and it seems to be like a good deal but I want to ensure I don't have any surprises. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I have some brokers telling me that it's still a rent PSF calculation, but I'm just not seeing how that's an accurate way to price it b/c of the effect a drive thru has on the ability has to drive traffic.

Some months it will be higher, some months lower, but if you did your calculations right, it should at least be close.Beware though, some states don’t allow estimated utilities.

@Josh E.To buy your first investment property in Tempe, connect with local real estate investors, research the market, analyze listings, find an investor-friendly agent, use BiggerPockets Rental Property Calculator, explore financing options, consider local market trends, consider property management, and build your network.