(i.e. initial decorating and painting, bookings, rate structures, marketing, bookkeeping housekeeping, etc)? 

Although 3.1% is a great interest rate I tend to not get too caught up in keeping a property just because the rate is good.

You're giving up some good tax benefits since you're in the tier of taking itemized deductions.

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided

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

Potentially lower down needed of 15% with better rate and 6% cap in IPC’s

@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

We currently have fixed interest rate at 2.85 on one home and 3.25% on the other 

So, Colorado vacation rentals will be taxed at something between the current residential tax rate of 6.7% and the commercial tax rate of 27.9%.