Purchasing a STR in a somewhat sketch area is a terrible idea and as others have mentioned, is going to open you up to potential issues. 

Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)

I work almost exclusively with investors and a lot of times, out-of-state investors.

That would make is more special and a no brainer IMHO.

To me it seems the properties will be in rough areas which has higher turnover costs, barely any appreciation and a head ache.

Yes and a few bookings on Airbnb cost your ranking on Vrbo.

And a general contractor would NEVER sign a customers contract 

Awesome and as far as tax deductions do you still do them to get a return or do you only do those so you don’t get taxed on your rental income 

My goal is financial freedom for my family and a life full of giving and serving.

Seems like a very strict penalty if this is not followed through.The CTA provides that willfully reporting or attempting to report false or fraudulent beneficial ownership, or willfully failing to report or make updates to the reported data shall be punished with a civil penalty of up to $500/day while the violation continues (up to $10,000) and a criminal penalty of up to two years in prison.