If you have a short term rental, you need at least one tax return reflecting the income on schedule E for at least some portion of the previous year. 

e - Roof   f - Siding/brick   g - Foundation (this one can and will be the killer)   h - Windows and doors   I - Finish door/window hardware...inside and out   j - Exterior water drainage (there was none back then) and any damage done already (see "g" above)You said you estimating $3000 for rehab now. 

Smoking - absolutely not, and I specify *everything* in my lease - no cigs, cigars, pot, vaping, e-cigs, etc.

Some MSA would have different fundamentals within the submarkets, so digging down is key for getting it right. 

The app developers should STR for a bit (to include Schedule E and C with accountant) to really understand the customer (me)).

In other words, the fundamentals of your investment stay the same.

They exhibit these yields because the underlying fundamentals, such as pop/job growth, are not favorable, as you have pointed out in your research.

I joined very recently, but have found a lot of insightful blog articles, manuals, and forum posts.I'm just getting started in my REI journey, and am still getting all the terminology and fundamentals down.

I've gotten an estimate of $115/month for the common G&E, so that plus water will be much higher.

From tax perfective, you will have to claim all the rental income and expense in your personal return under schedule E ( with or without you single member LLC).