I get 4 expensive bookings from them for every 1 from airbnb.

You can only target owners with paid off properties who don’t need the money right away.

You should cover the mortgage and all other expenses, actual or projected.

You will not learn anything new from a paid system. 

.- You’re still responsible for a $500 gap each month.Add in maintenance, unexpected expenses, and vacancies, and your costs can climb even higher.

Really simple process to get a term sheet and no upfront fees except appraisal cost that is paid DIRECTLY to the appraisal company.

You see all the expenses you had in just that.

I would also take a look at your expenses - 15k/month in Michigan?

How do I calculate interest income, what are a few tenant charges (income), and expense reimbursements.

Quote from @Jeff Calcaterra: We have a potential tenant new to the area who has gone through a paid background check, signed a background check authorization form, sent us a LinkedIn profile, sent an offer letter and says he is willing to send us paycheck stubs, but says he doesn't want us to call HR to verify employment because he is supposed to have found housing already.