So I do not have a tax filing with the rental income on it yet.

That's three months of mortgage and utilities, the cost of flooring, and the cost of painting.

Just a follow up question, were you utilizing debt to invest, I have always been taught since a young age to try and not utilize debt (I come from a family of stock market investors, traditional business owners) where debt is not utilized as frequently which I obviously understand debt can be a very powerful tool and utilized in a great way its just something I want to avoid with my investments to an extent any suggestions for investing without debt or as little as possible. 

Taxes 10k HOA is 9k The current owner never did short-term rentals.

STR seems to have better tax benefits (in the right market) but is it worth it at a distance ???

If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus. 

There are less taxes in Alberta too.

Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed. 

If so, there are no transfer taxes due. 

Cash flow is definitely the biggest challenge; both in terms of finding properties to buy that cash flow with a loan on them and just company wide given interest rates and labor/material is up and, at least where I'm at in Jackson County, MO, taxes are way up too.