We bought a new build years ago (and sold it 3 years later when the market turned up) and our TOTAL cap ex was $550 over the 3 years. 

I think it totally makes sense. 

The number one problem with RentRedi is the total lack of customer support and yes with Intuit you will have to talk to an oversees call center but every question I needed help with got answered and all problems got resolved.

We only bring in about 85k-90k total and we are really frugal. 

If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents. 

I've gathered more knowledge than I can implement with all the BP content and other materials, lol.

Constructed in 1910, this property features a total of 2,793 square feet of living space.

If it's a deal that is in a very very desirable location and has tons of built in equity and appreciation, I would be totally good with negative cash flow for Y1 and Y2.

As you begin your REI journey here is one tip I have for you:Use this website as you are trying to narrow down the places you want to invest in. https://www.areavibes.com/Its awesome because it gives you a "total livability score" & you can compare different zip codes & streets to others. 

I was just on their website looking at the permit process:CityofSac-STR PermitLooks like 90 days max until you get a conditional use permit but still reading as it seems a little unclear:A short-term vacation rental may operate from a location that is not the operator's primary residence for a total of 90 days in a calendar year.