Median incomes are an insane gap from cost of household/properties.

The calculator estimates that operating expenses are equal to 50% of the monthly income.  50% is a rough guide. 

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score. 

This does not matter if the tenant is off a bit on rent and income.

I average about $2000 a month in cashflow on the current rental property, and the new property would bring in around $3500 in gross revenue.

I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

Property management can be great if you are willing to give up a percentage of your gross rents to not deal with headaches, but it's not like you can just ignore your asset.

Well, STR can work well for people who own a vacation house for personal use, and just want to generate some extra income when not in use.  

He abandoned trying to scale.Learning from this experience when my partner and I decided we wanted to double our net income, we realized it would take a increase of 2 1/2 time our volume and probably need to triple our deal flow.  

I put the cash from the refi back into more mutlifamily units that produce more rental income.