I just want to know how its done so I can replicate. 

I think Kathy Wood (May 2021) nailed it WRT commodity prices in general and I don't see a replication of lumber price spikes that we saw this spring.

I would look at other listings in your area and replicate the good ones as much as possible.  

Do you live in Colorado and want to replicate my strategy?

If anything seek out a mentor who has full on system you can replicate to shortcut your path to growth and a proven track record of the system working for themselves but also for their clients (ie. the group that I run has purchased 183 properties since January 1 fo this year... during a downturn and a pandemic).

There is also some great characteristics in an old house that are not replicated in today's designs. 

@Jeremy Horton "Typical house: pp for 75-100k or so, rehab for 15-25k, appraise for 130-150K, rent for 1200-1300. rehab takes 3-6 months" - That's literally the exact numbers I have and want to replicate in my market.

This was one of those easy, in and out deals that we wish we could replicate every month.

If you know this is a strong tourist market based on the number of listings in the area, you're going to be much more confident that you can replicate success than if you were starting from scratch with very few comps.As you start investing in more STRs, then your confidence level is not only based on the comps in the area but also your own experience level.

You're also getting tax benefits and additional net worth like a homeowner would... and additional income.Again, note nowhere am I saying this would work in all market or that it's a one size all solution..... but it can be rather easily replicated in probably a good amount of metros around the US.