And that's not including any kind of margin.

This has included taking a property that was getting very run down and remodeling.  

there are more than a few of us who have had this happen to us here on BP.. myself included.

@Christopher Mooney NOI is Gross Receipts - Expenses...including Property Taxes/Interest/Insurance, etc.Income tax is based on the NOI less depreciation.

Industry still looks at STR as a bit riskier than LTR cause there's no lease.Lots of investors use bridge loans which are short term loan programs that include funding toward the acquisition plus funding toward the rehab. 

p16  "Salzano used this money, much of which was traceable to Fund investors, for an array of lavish personal expenses, including erectile dysfunction medications, expensive dinners, extravagant birthday parties, and payments to Individual-4 (Salzano’s wife), Individual-5 (with whom Salzano had a romantic relationship), and Individual-7 (Salzano’s ex-wife), none of whom worked at NRIA in any capacity."

Moreover, other investment strategies are worth exploring if you are predominantly interested in high-yield cash flow; these include rent-by-the-room (which Josh and I are well-versed in), short-term rentals, and medium-term rentals.

The Mortgage would be around $3587/ month including insurance, taxes, Mortage insurance.

And again, this is still not including any capex/repairs.  

In California, diverse housing options are encouraged, including Accessory Dwelling Units (ADUs), reflecting a broader trend toward inclusivity.