If that's the case and you aren't viewing more properties in person than you are making spreadsheets on, you are destined for analysis paralysis.Spreadsheets can only tell you estimations based on numbers given to you online or by a real estate agent whose job is to sell the property.

And there's always the chance the developers you try to work with on your own will try to take advantage of your lack of experience by giving you a low-ball offer.

I go into the deal assuming I have a chance to make money, but also aware that like any investment, I can lose up to 100% of my investment, and in some cases, more than 100% of my investment. 

Are you getting estimates in DD to decide?

Did you have a chance to submit a deal on the form above yet??

Additionally, I'm interested in understanding typical STR fees to help estimate cash flow.If anyone is willing to share their experiences or offer advice, I would greatly appreciate it.

Let’s break it down with your example and explore the financing options.Max Leverage (Using a Lender for 90% Purchase and 100% Rehab):Purchase Loan: 90% of $80,000 = $72,000Rehab Loan: 100% of $25,000 = $25,000Total Loan Amount: $97,000Your Cash Investment:Down Payment: 10% of $80,000 = $8,000Closing Costs and Fees: Estimate around 3-5% of the purchase price = $2,400 - $4,000Holding Costs: Property taxes, insurance, utilities, and interest during rehab (estimate $1,000 - $3,000)Contingency Fund: 10-15% of rehab costs = $2,500 - $3,750Total Cash Needed: $8,000 (down payment) + $2,400 - $4,000 (closing costs) + $1,000 - $3,000 (holding costs) + $2,500 - $3,750 (contingency) = $13,900 - $18,750Moderate Leverage (Using a Lender for 90% Purchase and 0% Rehab):Purchase Loan: 90% of $80,000 = $72,000Your Cash Investment:Down Payment: 10% of $80,000 = $8,000Rehab Costs: $25,000Closing Costs and Fees: Estimate around 3-5% of the purchase price = $2,400 - $4,000Holding Costs: Property taxes, insurance, utilities, and interest during rehab (estimate $1,000 - $3,000)Contingency Fund: 10-15% of rehab costs = $2,500 - $3,750Higher Equity (Using a Lender for Less than 90% Purchase):If you decide to put more equity into the deal by using less leverage, you will need more cash upfront, but your loan amount and, subsequently, your interest payments will be lower.

Run an estimate for $175k refinance cash out on a 30 year and you may still be able to make 250 cash flow and have 100k to reinvest to buy more real estate.

. - Expect rehab costs to exceed initial estimates (maybe double)!

One perk with these companies is that they often extend the lease as construction timelines are notoriously difficult to estimate.