This excludes the cost of cleaning, which I've outsourced and passed the fees directly onto the guests at time of booking.  

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Sorry, the question is: can anyone direct me to that post or something similarly showing that?

I spread the word that I was looking for a house to invest in and a former boss of mine let me know that his aunt was selling her house and we negotiated directly with the home owner and closed on it before it hit the market.

-No holes in any doors, walls, or ceilings-Fire alarms and CO2 detectors in good working order-Lightbulbs working, and all light fixtures in good repair.

Ic not, he needs to read them or hire an attorney.Here in FL a contractor not in direct contract with an owner (the PM Might be considered an agent of the owner in TX) must submit a Notice To Owner form to the owner within 45 days of Beginning the work, and file any Mechanics Lien within 90 days of completing the work, along with s Demand letter 10 days prior to filing the lien.

Send me a direct message and I can send you FREE electronic copies of my 2 books.

Think your expenses are light - you might try running it again with 50% expenses and see what you come up with.  

The lighting fixtures should be updated or spray painted to look new.

One option would be to look into homes that needs some light rehab to then rent out.