It doesn't perform well; your neighbor is a nightmare, they put more regulations, you get tired of running it etc.It may not be your first choice, but it will be a smarter investment overall, especially for newer STR investors. 

Theres a foreclosure in an area that appreciates really well.

As for your question, it just depends on how knowledgeable you are to accurately report your income and expenses and to verify what TurboTax is spitting out.  

It could be a book on deal analysis, proper investor mindset, an internet figure who gives out great knowledge, a legitimate course.

Most CPAs don't have nearly the amount of tax prep knowledge most people think they do.

My name is Pete and I'm looking forward to buying rental property income in the near future as well as increasing my knowledge and education in real estate.

We started out on Quickbooks but after we got our 2nd property and multiple LLCs it didn't work well for me.

That's what I've been coming up with as well, it almost doesn't make sense to use cash if you want to scale more quickly and get higher returns. 

I'm a travel RN with a few flips under my belt, one commercial property that turned out well, and am looking to purchase a property in New Braunfels, Tx to live in for potentially 6 months out of the year.

But if you know of any other way, or any other area that does not require a lot of funds to start,  I'd be very grateful for the advice and information as well.