Never underestimate what paint, flooring, and light fixtures can do for a place.

I don't think you have taken into account the little things for maintenance like gutter cleaning 1 or twice a year, pest control if needed...i keep a termite bond on my properties etc.I'm not saying its not a good deal(I dont know) but I do know that your cost will be higher than what you have stated here.

We found a floor plan we like, but it is available now.

LOL  just like during the gold rush it was the hardware stores and bars that cleaned up.

My wife and I made our first big leap into the STR world when we bought a 3 story house with 9 beds, 4 baths, a jacuzzi on the 3rd floor and a resident paranormal entity. 

4 Unit Building (one floor/ranch style) - located in Chicago suburbs.

Currently tenants go off site to do their laundry, I plan on cleaning out the basement and adding coin operated laundry and installing storage cages for the tenants to rent if needed.  

I have a  building with several garages on the first floor with an apartment upstairs. 

I purchase and rehab - new A/C for the most part, new fixtures, appliances (if they need replacing), floors, paint, etc. 

It is a 3 bdm 2 ba but we can only rent the bottom floor for nightly rentals due to narrowness of the stairway (fire code) so we've been debating renting the whole house on a monthly basis instead.