For these, costs tend to double across the board, especially for older buildings.

My model is NOT good for LTR as it's not cost effective. 

However, co-living allows you to acquire properties with as little as 0%-5% down, drastically reducing the amount of cash required.Instead of needing $100K+ to buy a rental, a co-living strategy lets you start with a fraction of the cost while achieving higher returns.3.

When evaluating a property management company, it's important to look beyond just the management fee and consider the full scope of services and costs involved.For example, at our company, we charge a 10% monthly management fee, a $250 lease renewal fee (unless it’s a takeover tenant, which requires additional effort to establish a strong relationship - because usually people are changing pm companies for a reason), and the first month’s rent as a leasing fee.

Evicting them, even after purchase, could be a lengthy and costly legal process.

It is going to cost more than you expect, and you'll have that "Oh, crap!

And the reality was I only put 20% down plus closing costs.

Short term rentals do get more money, but also cost more to run and require more time.  

Most DSCR programs will want you to have owned the property for more than 6 months to allow you to use appraised value instead of cost.

Once you pay realtor fees, closing costs, sellers want 10k for points and concessions.