(note, my "repair est" I'm not concerned with it be slightly off I've budgeted for 10k surprise, and the "ARV" is based on my own comps, not my realtors yet)Purchase: 54kClosing: 2.5kRepairs: 12kProj Cost: 68.5kARV: 90k2 months to rehab, 6 to refiPurchased w/ traditional 30yrDown Payment: $10,800.00Loan Amount: $43,200.00Loan Points/Fees: $0.00Amortized Over: 30 yearsLoan Interest Rate: 6.13%Monthly P&I: $262.49Total Cash Needed At Purchase: $25,300.00Refinance: W/ Traditional 30yrLoan Amount: $67,500.00Loan Fees: $1,000.00Amortized Over: 30 yearsLoan Interest Rate: 6.13%Monthly P&I: $410.14Total Cash Invested: $1,744.84Expenses:Vacancy $91.00 (7%)Repairs $65.00 (5%)CapEx $65.00 (5%)Water & Sewer $30.00 (2%)Garbage $14.00 (1%)Insurance $215.00 (17%)Management $130.00 (10%)P&I $410.14 (32%)Property Taxes $58.33 (4%)Total $1,078.47 (83%)Monthly Income:                    Monthly Expenses:               Monthly Cash Flow:                    Pro Forma Cap Rate:$1,300.00                                     $931 / $1,078                          $369 / $222                                       8.42%NOI                                          Total Cash Needed                   Cash on Cash ROI                        Purchase Cap Rate$7,580.00                                      $25,300.00                            17.5% / 152.4%                                   14.04%So am I missing something here?

And like all calculations, the adage "garbage in, garbage out" applies. 

Also plenty of people buy the post cleaning trip even though it literally only allows them to leave pieces of garbage and you can still charge for any other cleaning needed so that’s easy $$It helps to have a partner but if you can come up with a cost effective game plan to turn it over, you’ll be happy and see a steady profit as well as have an asset(I do miss driving the sports car I rented out) Good luck and remember customer service!

There was tons of garbage stacked up next to the building. 

Properties sold at the trustee's sale range from total garbage all the way up to multimillion dollar mansions and commercial property. 

When my wife and I purchased our home we did half from savings and half from my 401k, but this decision came from believing that the market was going to be doing garbage returns over the 4 years we gave to our selves for paying off the 401k loan, and the interest I would effectively be paying my self over that time frame would be better or equal to what the money would be doing in the market to begin with.  

I am sure the goal was to create something that was educational and not Hollywood garbage lol.

I see on most of the Bigger Pockets blogs, podcasts, or webinars that when analyzing a property and its expenses, many times utilities such as water/sewer/garbage, electricity, gas, etc. are thrown into the expense column.

@Michael Kugler Hi Michael - Does the 35% also cover purchasing and stocking toiletries for each booking (soap, shampoo, garbage bags...)?

Now if you start seeing the TK provider recommending which garbage company to recommend, then that would be a red flag.