We will use the high end of this range ($100k)   This implies the initial negative equity position is $150k  $150k (initial negative position)/$350 (cash flow) takes 428 months to recover the initial negative position (35 years).  

@Samuel Coronado, @Elan Adler  Entire subdivisions of build to rent put more pressure on local landlords because the big institutional investors can afford to buy tenants with low rents and free initial rent period.

The initial cash flow is a beginner’s metric.  

Again, expect higher prices than your initial targets.Smaller Cities: Don't completely overlook smaller cities or towns with strong local economies (e.g., a strong university or a growing industry).

The operation of an STR has almost nothing to do with real estate and 100% to do with hospitality, that is where you can distinguish yourself from other operators, provided you made a good decision in your initial purchase. 

We are looking for 3 year lease if that is acceptable with you.My initial reaction was to decline this offer.

You may be able to initiate some rent from now until they are ousted as well. 

You should have/could have screened them when you initially bought the property, but there's no point doing it after you've had them as tenants for a full year.

Initially, a two-engine plane was considered for increased safety.

With banks, you face lengthy approval processes, piles of paperwork, and significant time spent waiting—time that could be better spent using the funds to address your initial needs.