I chose the cabin based on comps from the last 6 months in my area. 

That kind of shoot-from-the-hip approach can be fun for a minute, but it usually ends up like my old buddy Rick’s first deal.. he bought a distressed fourplex in Tucson years back without a real plan, and while he eventually turned it into a solid monthly cash flow, he spent the first six months sleeping with one eye on the tenant ledger, praying the HVAC wouldn’t bail on him after a hot desert day.

Not a bad side hustle - spending a few hours mostly doing some laundry and cleaning up and paying yourself a few hundred a month to do it! 

AND The balance on one statement is < 100 and other not enough to cover the first months rent and deposit.

On the north side, my credit score requirement is 680 and I strictly require their monthly household income to be 3x the rent.

For example, let’s say someone sets an annual goal of cash-flowing $120k ($10k/month) a year in passive income, and then sets a quarterly milestone of acquiring 20 units.

The only thing I'd add is to do an 18 months lease or so, so that when the next lease is up you'll be in the warmer months. 

Taking the higher of the two, that's 52k in debt service for 12 months.

We take the T12 roll it forward, we strip out anomalies and one-time expenses and then layer in base assumptions and any known large expenses that are planned for the next 12 months.

This seems beneficial in your case where you're dealing with various different cleaners cleaning your property throughout the month.