Same would hold true in a beach environment in the summer months. 

I have never found a true 70% deal.

Quote from @Zachary Deal: Choose neutral safe tones and get nice materials but don't splurge too much on very fancy cabinets, counters, appliances that someone else may not value the same as you.This is so true.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

It helps being willing to talk to sellers/get on the phone and talk to folks in the real estate space in general but the most important thing in my opinion is being an honest and true person.

Dedicate one checking account and credit card exclusively to real estate.

House hacking is the best tried-and-true method for new investors in my opinion.

While that may sometime be true, full disclosure to all parties should eliminate any ethical or moral concerns (imo).  

I also use their virtual credit cards which enables me to assign a card to a specific person, like the cleaner for my STR for example, so when she runs a charge, it automatically drops into the right account in terms of categorizing my expenses.