The cool thing about those is you can pick everyone's brain from seasoned investors and agents to aspiring real estate junkies. 

I'm planning on fixing it up during the slow / winter season and start airbnb'n it as soon as the nice weather hits.

Numbers work out as:Monthly Payment - 1300Cash Flow - 867 (after management 10%, maintenance 10%, vacancy 5%)ROI - 16.76% (this is after buying with cash)I am going to try and season the property for the next 6-12 months and then pull my money out of the property.  

It is way too general and definitely not something a seasoned investor would use to budget out a rehab in my opinion. 

I recently purchased a small seasonal rental in Lexington, Michigan (a beach town), and have been seeing alot of very good-looking deals in two-family homes near the Hospital and College campus in Port Huron: two-flats for under $70K, (average rents for 1/1 $550; for a 2/1 $650-750) low taxes, recent capital improvements,  BUT, I've also read alot of negative forums regarding crime, and the crime statistics for Port Huron are WAY higher (in certain parts of the City) than either the Michigan or the national average.Anybody have any insight into what's going on in Port Huron, Michigan?  

The expense of having a qualified and seasoned CPA who has fought with the IRS for the rights of tax filers can not be under-estimated.

I hope to meet some seasoned investors and get this started.

Not even all DSCR lenders will allow this because most want to have 60 days sourced and seasoned funds for down payment, closing costs and 6 months reserves.Even though you don't qualify for traditional financing, you may qualify for a DSCR loan, but you definitely need a broker to help you structure the moving parts.Stephanie

@Everett Morris contact your bank and  also smaller  credit unions and bank in your area  and  ask for a personal LOC ...rate  will be  high  if you qualify and  you  likely   will need  to pull  funds  out and  deposit  to your  account  and let  season for  2-3 months   before you  can  buy another property

Which of course is a very large range, but given the seasonality of short term rentals, the average monthly cash flow over the course of a year will likely end up near the middle of that range.In the most conservative case, if I long term rent the top unit and mid term rent the basement, I would estimate around $4,000/mo for the top unit and $2,200/mo for the basement unit.