short term rentals are not only vacation homes, nurses, workers, consultants, family, etc. all use short term rentals in traditionally non vacation marketsMaybe so, but a true vacation rental in a tourist area is going to do better than in an area where you best bet is to get a traveling nurse for a few months.  

@Joe Stout  What is your true all in number? 

@Noah McPherson you manage BRRR financing the right way by paying cash for the asset, doing the rehab in cash and taking out a loan after.Far to many things can go wrong on a BRRR for a high interest rate HML.If you don’t have the cash to BRRR, buy a low risk double… wait 7-10 years, refinance, take a HELOC and BRRR with your own money.Tried and true formula to safe wealth building.

At first it seemed to good to be true.

Let's say I put $100k down, isn't my true profit $30k? 

True, the stock market has averaged around 10.4% since 1929, and this is what is commonly used as a benchmark.

Yes it is true that most properties need to be run-down to use the BRRRR strategy, but it is not necessary.

Is it true?

Don't know if that's necessarily true or not, but I want to get started in renting out as a long term investment. 

No one get wealthy on monthly cashflow (at least not in my market Houston, Texas).It's even very hard in 2021 to find a TRUE cash flowing property without putting in some sweat equity or large down-payment (20-30% in most cases).