You'll have depreciation of roughly 20k a year for the next 27 years so that means your 5k profit will be tax free plus you can offset your regular income and maybe save 3k in taxes there.

You can also find a MTR consultant or someone who operates in the area to help you determine the rent rates, demand, and supply numbers in your market. 

My family is donating supplies for the flood.

Double check on insurance costs for a 400k STVR not a regular residential home.

We have a supply issue because banks stopped lending to builders other than one or two at a time for spec builds after the bust in 08 so they were limited in being able to grow the supply. 

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After talking to two realtors with intimate knowledge of the area, we learned that STR rents and annual occupancy are just too low to even cover the PITI of properties in the area, let alone maintenance, supplies, lawn care, snow removal, etc.

@Tyler KeslingContract services and supplies are specific to the market, as maintenance, with labor.

However, with nearly 1 million units under construction nationwide, supply pressures persist, especially outside the Sun Belt.

I wanted to introduce myself as I am incredibly anxious to step foot into the incredible world of REI and would love to know if there are any local investors that meet/would like to meet on a semi-regular basis.I currently have a full time job in outside sales in the Arvada area so I do a lot of driving around which enables me to spend a lot of my time listening to podcasts and educating myself but I would love to get to know some players within my local area to really dive deep into the subject and in which I could potentially be of value in the future.