Whats more, there was damaged equipment that costs about 3k.

It is a small town, definitely a tertiary market right now, but that is where opportunity is going to be found.I think LTR, in the right location, can provide enough revenue annually to cover all holding and leverage costs while the resident pays down the principle and the demand in the city sustains slow and steady appreciation. 

Yearly increasing costs will, in time, eat up any profit they have per unit.

From there I accepted and negotiated to have the seller cover the cost of replacing the roof.

Also, how much did the electric and plumbing fixes costs?

My first STR, and plan on splitting between self use and renting to help offset costs. 

It's the cash you put in that's your cost for the property. 

Cost of capital is high right now. 

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

This lowered my cost basis per lot by 7k.