You can utilize rentometer, BPinsight, craiglist and facebook marketplace to get a gauge for rent, put it into the BP calculator along with maintenance, capex, vacancy, and property management (b/c the ultimate goal is for this to be a passive investment) and see if its profitable.

@Luke J Nelsen You may be able to withhold some or all of the Tenant's security deposit as damages for "cost of reletting" (defined as “leasing fees, advertising fees, utility charges, and other fees reasonably necessary to relet the Property.” 

Call the utility and asked them what they found.- I have had power issues related to bad receptacles, where the connections were intermittent.

Your hard costs start with your $2100 mortgage, but you may have some other costs such as any utilities provided by the municipality (commonly garbage or sewer but sometimes others).

This could probably be lower if all items are in near new condition, but I have had $6k in gas line repairs for gas that couldn't be smelled, but the utility transfer caused a pressure test that found multiple leaks throughout the system.  

@Arwin Nassiri Be sure to do your due diligence when considering raw land, and consider particularly the cost of getting water and other utilities to the location and whether you can actually build on the land at all - any structures or improvements within 25ft of a Joshua Tree will be difficult, expensive, and likely impossible in most areas - and you generally can't move them either. 

An option you could utilize would be to take out that appreciation via a HELOC or Refinance and if you use those proceeds to purchase additioanl real estate then you would be able to depreciation that new property.

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*This link comes directly from our calculators, based on information input by the member who posted.

All, Has anyone utilized BRRRR in the short term rental space?  

Take your annualized collected rents (plus, other income if there is any - pet, utility bill back etc) and subtract your annualized expenses.