Comparing 2023 apartment supply growth against rent growth we can see that inventory grew at about double normal, and rents still rose .5% on average.

Normally 25-30% plus reserves is what you would need.

All normal expenses deducted management maintenance landscaping and so on.Does that sound about right?

Normally, inventory levels begin to contract in Sept/Oct.

Are you then on the hook for paying normal income taxes on that remainder or is there a way around that?

Not trying to be a dick but it sounds like a lot of this is you underestimating the effort involved, a 6 month rehab is totally normal even quick right now.

So, if you have a full time job which is notionally 2000 hours a year, you'd have to being doing real estate for at least 2001 hours..This is pretty normal. 

 $2,400 for 3 months on top of normal rent sounds good though.  

He had a female CPA on who talked about the benefits of an STR Loophole for those of us who have W2 income as a way to take deductions that are normally not permissable when the tax payer makes a certain amount of income. 

Quote from @Pandu Chimata: Quote from @Dan Heuschele: Normal state rules would limit ADU to 50% of current dwelling.