. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

Now, three things can happen. 

If a tenant buyer does not exercise the option within the three year period of time, then we can do a couple of things.1. let's say they leave early.

You make $10k from STR, you have to come up with $22k out of your pocket, not to mention the upfront $100k down payment and possibly another $20k to furnish the house unless you bought it as an existing STR.So in summary, in today's market, it's impossible to buy a STR and be a passive owner and still make enough profit to cover your mortgage payment. 

Try interviewing at least three managers.1.

You can use the Bigger Pockets management finder tool to look up MTR management companies in the area and then I have a few recs I can provide if you are interested.Shoot me a message if you would like to discuss further and I can help you strategize to make sure you make the best decision possible!

Welcome to Bigger Pockets Joe!

There are some pockets in this lower price range but they are hard to find and sellers won't let them go for the price you want often. 

Now, three years later, my tenant reported cracks in every room—paint cracking and full-line cracks in the bathroom, living room, and bedroom (walls, ceiling).A drywall contractor looked at it and said it’s normal wear and tear, but I’m concerned since it’s in every room.

My wife and I have 22 residential assisted living homes in Colorado and three commercial senior living communities in Colorado and Arizona.