It does cover the cost of cleaning for a typical 3-month lease, but guests who renew their leases and stay longer often have excessively time consuming turnovers.

Lennar has a new community, but they often don't let investors buy or advertise and remember they control the HOA for the 1st year or two typically, so they can make life difficult.

Typical property management companies take about 25% for STRs.  

While I reside in California, I manage several properties in Ohio and operate a Short-Term Rental (STR) in Tennessee.

How’s someone with little or no real estate knowledge and experience going to be able to (1) IDENTIFY the one “hidden” great deal amongst the 3,000 others (2) compete against the large wholesale operators spending $10,000 to $15,000 EACH MONTH on marketing/advertising and (3) find the time necessary to follow up on the 100 possible deals it takes to POSSIBLY get 1 makeable deal?  

And the reality is that most people you hear on the BP podcast are just doing it without getting caught.Again I'm not saying you should, just telling you how the world is operating. 

It’s too much work.For instance, This property was bought for $5,000 (Five Thousand Dollars).Click on images to enlarge Purchase & Sale Agreement (many more examples available).This is an example of how the numbers workThere are hundreds of people doing these every day around the country.My experience is the best place to focus on these are the typical places.

Typically I am a flipper but have done buy and hold.

From what I have read on BP Logan who answered you is an experienced operator looking to expand..

Hi Jonathan,No shame plug here 😁We have been operating a turnkey company with in-house property management in Toledo (45min from Detroit) since 2014.Here is a thread about us so you can see the good, bad and the ugly over the last 10 years - https://www.biggerpockets.com/forums/92/topics/185261-ohio-c...With that said, I love Detroit and have always seen a tonne of potential in the market.Wishing you much success 🙏👍