Obviously - I have also seen the latter, but I don't think having a loan at 75% or 80% LTV automatically rules you out for strong cashflow.

The loan rate is about to adjust to 6.9% which is more than double what it currently is, making the property in the negative for monthly cash flow.   

I can say while an eviction on a tenant’s record is a red flag, it doesn’t always mean they should be automatically disqualified.

Feel free to adjust the numbers based on your expectations for capex or vacancy rates.

Make sure there are no automatic renewals or hidden fees that could catch you off guard.

It might take some adjustments, but you’re not far off from making this work! 

It's advertised now at $1500, maybe another adjustment needs to be made. 

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In STR common markets like Gatlinburg this naturally adjusts itself as most homes are STRs so the entire market lifts to meet their cap rates, and they appraise on those cap rates in spirit, even if not technically. 

Once you're at a $3,000 net loss, that amount can offset other income as an adjustment on your tax return.