We gave it some time running it from across the country, but are realizing that we'd rather not try to operate it from across the country. 

I advise clients not to solely rely on AirDNA data for performance analysis as there can be some variation based on amenities such as hot tubs, premium decor and design and general operational excellence. 

That would mean you only have $38K of operating expenses each year, a 24% expense ratio. 

Either get a real estate license or work for another wholesaling operation to learn the ropes.

@Zhenyang Jin A DBA is generally not necessary for your LLC in California unless you plan to operate under a name different from the LLC’s legal name. 

Nexus Capital will serve as the stalking-horse bidder, acquiring most of Big Lots' assets and operations.The company, known for selling home goods through closeouts and liquidations, secured $707.5 million in financing to support operations during the bankruptcy process.

It's just not worth it.I suspect they are running a little operation to squeeze money out of scared landlords.

Net Operating Income is Income - Expenses Before the mortgage. 

After Operating Expenses are deducted, we're looking at about $13K in NOI.Purchased for cash at the full asking price of $244,900, and assuming NO CapEx or renovations, that's about a 5.3% Cash-on-Cash return.What am I missing?

And while there are a ton of people on these forums and social media that I would never trust my money with, there are also a lot of people/companies that are on social media that are great operators with long track records.If you are not going to go that route, I recommend you start hitting up local meetups and REIA groups.