The foundational items, roofing, HVAC, plumbing and electrical were newer and needed very minimal replacing and updating.

Most will tell you STRs are a lot of work and I won't disagree with that if you don't know what you are doing.I will say though, we have been able to put together some rock-solid systems and processes to streamline that to minimize the work and maximize the returns.My business partner and I are actually writing a chapter in a new book that is coming out this year about unique stays.

I try to be respectful of the tenant's schedule, but I also try to minimize the unit's downtime.

.,  where I can see this for sure is with agents on BIG teams that are beginning their carrier they get cash flow ( IE they get paid I suspect from you weekly or monthly out of the retainer).... ya I can see this.and as you said your blue color FHA buyer with minimal cash savings is probably not your target.. but sophisticated number crunchers..

Make good investments, create profits, pay some (minimal) taxes on the profits and move on. 

At least my cap ex will be minimal for some yrs to come. 

With minimal risk and a clear path to profit, this deal aligned perfectly with our strategy of maximizing returns through strategic, well-timed real estate investments.

We are set up to close fast, easy (100% online), and for minimal fees.

I'm trying to figure out how to use opportunity zones to defer and minimize the tax impact.

So with that cash flow has been minimal at best.