Check out the threads that Nicholas L. linked to above then use the search function and you will find literally dozens more like it and begin to understand what can go wrong. 

Hi BiggerPockets community,We are a married couple based in the California Bay Area, both working as software engineers with a combined income of close to a Million USD.

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

The combined revenue as LTRs, however, would be about $3000/month.

You can combine a bunch full-time of investors together and would be hard-pressed to have a repeat of your story with a car crash.

I will take that over 200.00 a month positive cash flow :)  All the while running my Capital Partner business and funding over 120 deals a year for my hand picked clients. lThat's a nice combination.

A combination of extremely tough long term tenant protections and the economics of short term renting being a lot more attractive. 

If we bite off people’s heads when they admit disaster, it suppresses legitimate issues with these techniques.Just for context there is a lot of history with the OP and some of us on here going back years (like the thread I linked to above from about a year ago and several others if you use the search function with his name) with him minimizing the risks of how he was structuring these transactions and some of us being cautionary, warning him that exactly what happened here could happen, which made him defensive and dismissive. 

Since the assumable financing and seller carry combined could put a strain on your monthly expenses, it’s important to model different scenarios for vacancy, maintenance, and management costs.

Yes, this is a product of laziness on the part of the user base most of the time, but also because the actual search function is not that great.