How are you even measuring "cash flow"  Does that mean that every FLIP is not an investment? 

The best way to avoid analysis paralysis is to have a very clear identified criteria and objective to measure any deal against.

@Jim Growfer All these measures- Cap rate, Cash on cash, ROI are pretty useless when used singly; they are too easily manipulated.

However, the regulations in the area for vacation rentals seem stringent and prohibitive to operating a full time Airbnb.

When meeting with an advisor make sure they explain how the measures in place to make sure they act in your best interest so that you understand and are comfortable with it and not just say a bunch of financial jargon and give you a ton of papers to read.

We don't have neg am loans any more and while stated loans are creeping back up, ATR (ability to repay) rules, AMC's for appraisals,  and other measures in place should at least mitigate the fake valuations from exploding and tanking the market.

I've heard the VA loan inspection is more stringent than other properties and it needs to be "turn key" in order to be approved.

Lowes will be at least 3 weeks with their pre-measure, order the carpet, then schedule the installation process. 

My specific questions are:a - What is the form of measurement for testing used? 

You have a great position to start from.Second, I always advise new investors to "measure twice and cut once" when getting started.