Yeah, you have a lot of considerations going on at once.

Herron Morton and Kennedy King neighborhoods really have great value right now, and anything near the Monon Trail should carry some more serious consideration as well.

Personally, I use a management company for our cabins because first they are able to obtain considerably higher gross rents and  ADR's that would be feasible by self managing.

I haven't looked at the spreadsheet lately so I don't know if he takes in consideration of a roof that is 15 years. so you would need to modify the capex to 10 years if you want the property to pay for the replacement. $4000/10/12=$33 per month capex.

Would they take that into consideration if I tried to negotiate with them?

@Shaun J. i think the thing to take into consideration with expired listings is the fact that there is a reason the property didnt sell.

May be so e hidden potential if current rates are considerably below what other comparable properties are charging...?

Thank you so much for your time and consideration in reading this message. 

Also the operating cost does not take into consideration the salary for janitor other than that it should be included.

Are you continuing to purchase additional rentals if the numbers make sense despite the risk of the asset losing considerable value if a recession comes to fruition or if our current real estate cycle retracts.