On average, you will spend 10% of your income on maintenance per year.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

Then you get 100% minus cleaning fees and maintenance. 

View reportI'm looking to pitch this to an investor who wants to flip this house in Nashville, TN. Below is my estimated scope of work and timeline. Any experienced flippers or investors opinion's would be greatly app...

However I like to run my numbers conservatively and account for cap ex, vacancy, maintenance reserves 10/5-7/5-7% respectively.

It could cause a low spot where things slow down and then it all compounds until there is a clog.

Quote from @Omar Samaniego: Quote from @Bonnie Low: I've used Avail in the past, but switched to Baselane last year.

And how much deferred maintenance does the property have? 

They are usually looking at C or D properties that local agents tell them will “cash flow“ They usually don’t cash flow because of high maintenance and vacancy.