Proper covered every little thing including the lost booking amount. 

Purchase price: $190,000 Cash invested: $25,000 Bought this property using HML, total cash in is actually $87,000 including the down payment and lender fees.

As pointed out above, I don't thing that you are including all of the expenses.

The loan program qualifies the property by using Rental Income to cover the Total Mortgage Payment which includes Taxes, Insurance, and HOA.Regards,Michael Taylor

However, if the $500/mo does not include maintenance, vacancy, capex, and property management, then it probably actually makes your cash flow negative.

By net I mean take home pay after direct booking fees, including cleaning.

I've seen conflicting information on when/whether these costs are deductible — most, including Pub. 536, seem to apply to the *purchase* of a rental property, and resources that deal with sales have focused heavily on either straight-up sales with capital gains taxes or on 1031 exchanges with deferred gains.

This framework should be comprehensive, covering all key areas of property management including financial management, tenant relations, routine and emergency maintenance, legal compliance, and property marketing.Identify the critical traits, skills, experiences, and credentials that distinguish a high-quality property management company.

Target rent is 2200, my expenses will be around 2050, so cash flow of 150 (not including vacancy).  

hmm...well, as someone who has 20+ million in warehouse lines of credit I do know that it would still be fraud not to include those loans on the application/quarterly financial statements that are required for business credit.