That's not really investing, per se (i.e., it is not the actual buying and selling of an asset). 

Here's just an outline:Legal (entities, transactional, consultation)Accounting (tax prep, possibly payroll)City business licensesTaxes (SE tax, Cap Gains tax)Closing costs/title insuranceHomeowners insuranceBookkeepingProperty taxesAgent/Broker feesProperty management feesHard money feesThe opportunity cost of money and time.That's just a short list.

You will find there are a lot of other SE WI investors in the BP community. 

What kind of % down would new investors be looking at when trying to obtain a STR in the SE Gilbert/Chandler area?

This type of listing is illegal in many states.I am not against wholesaling per se, but can't say the same for some of the frequent posters on the site, who vehemently oppose it, and will continue to oppose it until their last breath...lol.   

Honest question I didn’t yet see - just for conversation, not debate per se...

One house on our block (SE Longmont) saw the homeowner make $5K a month last year and his house is 6 bedrooms.

Therefore, the value of the property can fall more without affecting the solvency of your position.While rents aren't per se related to the amount of equity in a property, to the extent that property value usually bears a relationship to rental value, they are in most practical circumstances.

It may not be “that simple” per se, but ultimately it is really just several formulas working in concert with each other...  

I don't really plan on actually BEING a real estate agent per se, I just went for the license for the access to MLS, the savings in commissions and the knowledge that taking the course brings.At any rate, I can either choose to select a sponsoring brokerage now and get my active license, or I can get an inactive license without a sponsoring brokerage.My question is, do any of you folks have any suggestions?