One of my applicants showed up with little credit but no defaults, no evictions, and only traffic violations and verified income high enough to cover well over 3 times the rent and I accepted the tenant despite there being some signs.He paid the rent in time for the most part until a few weeks ago when he stopped and I could not get ahold of him.

If the property makes income, that's good.

The tax savings could be larger than the regular income. 

Marketing ; the same and the ideas keep coming and coming My thinking is that you need more income and a sellable skill. 

It gives you access to funds at a relatively low interest rate, and you can repay it as the rental generates income.

You didn't buy the house to preserve it, but for it to produce income.

If you have high W2 income, the amount your STR makes (or loses) will be peanuts compared to the tax savings.

Not a rookie - While I have never purchased a home without an agent, I have purchased two homes in the last fifteen years in Denver and, at some point, managed both with some form of rental income, plus helping my mom manage the independent basement apartment in her home.

Through proactive maintenance, efficient tenant placement, and careful financial management, I optimized rental income and ensured a steady cash flow.

But with that one lender I found I am not lendable due to not having proof of income for the last two years.