That will leave you with limited funds to actually purchase the house.

that was not a method that Armando taught in the seminars I attended these were strickly how to find BRRR props and rehab them and then resell or refi and keep.. the Markets we worked were Vegas and Orlando and Frankly those investors who actually bought property doubled their money or more with the deals i funded for them and they bought on their own it was 2011 to 2013 which as we know was a prime buying time and had to hand it to Armando he picked two of the best Markets.. 

If all else fails, 😀 ReSure's got extensive resources on all these subjects in our educational platform (which actually includes some plagiarizing from Michael!

I was told I can pay $3k to remove the part of the tree that's hanging over the garage (in addition to the $3k deductible I'm already paying) or I can take the next door neighbor to civil court because the tree over the garage is actually dangerous to the tenant who lives there. 

Equity is actually a cost of the property. 

Because there is so many novices who jump into STR without the skill, knowledge, ability to actually operate it and rapidly are bleeding-out.

Actually, not that far from Chicago and NO TOLLS either :)

Like someone else mentioned, doing a short term rental in a secluded basement that is very private and walled off is one thing, but sharing the same refrigerator, kitchen thermostat, etc. with a complete stranger seems like it will introduce more problems than what the money is actually worth.

They claim to furnish properties for 2-3 times the usual monthly rent with the help of their "designer team" , but the actual costs are 5-7 times higher.

I still have other builders build for me too actually because of bandwidth.