The cashflow on the short term rentals are much better than the long term rentals and the fact that you own a house that can be sold quickly vs an apartment building is a bonus.

Here are my updated monthly estimates on standard cash flow (not including any "bonuses" like appreciation and principle reduction)... any additional thoughts would be appreciated.  

(damage bills so far total$16,000 for demolitions,etc BEFORE REPAIRS EVEN START for new flooring in bonus room above garage , new insulation, new drywall, paint ,too much to list..SO MY QUESTION ISwhat kind of insurance does my property manager carry (i hope they have it) that i can sue them for damages not covered by my homeowners rental dwelling policy???

It's a great quick check to determine if it meets your 0.8% test (which by the way is similar to my budget).Another thing to think about is getting a 2/1 or 2/2 and seeing if there is a "bonus room" that can be converted into a 3rd bedroom.  

And certainly if they've ever rented it that would be a huge bonus. 

The rest of that money is bonus profit because you used good conservative estimates when you did your initial analysis.

Personally, I look for sustainable cash flow first and consider property appreciation as a bonus, but I do know in certain markets that investors will hold for appreciation, which is a bit risky for me.  

For instances, the PM keeps the tenants in place for two years maybe they get a bonus.  

A couple of them are partners are law firms or public accounting firms, one is a smart lawyer at a small ish law firm but not a partner....A controller, base at $230K, 30% bonus and RSU....A recruitor called yesterday with a sr finance manager position base at $180K + bonus + RSU, and said can maybe stratch a bit more.... that is only a manager level....So personally I know 4-5 of them making $700K ish...

Say 20 bucks a week and maybe a bonus if they deliver one that leads to a deal?