The 100 hours rule can be satisfied as long as no one else (including contractors) materially participates more than you.

COSTS:  I would look at any-and-all things needed to run an STR including items that are often done by owners--for example, property management.  

I'm looking seriously at expanding my REI business include buying, fixing and flipping REO properties!

Are utilities included?

Financing options include standard 25% down, 30-year fixed loans, FHA loans, portfolio loans, private financing/hard money loans, and seller financing.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

the sale of the design includes CAD files making it easy to implement changes. 

They do have other options that you can add-on, such as electronic inspection reports, mailing services and e-lease (this one is included if you're a Pro member which I am not) but I haven't found the need for any of those services yet.  

I would say today 40-50% of your income goes towards normal operating expenses. 50% if you want to include replacement reserves which you should.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).