A limited POA would give another party agency to handle the STR management in clearly defined, limited instances.

For instance, in your analogy, the distribution would be insanely right skewed with most observations being zero and a few being $1,000,000 or whatever. 

For instance, if I was to look at a property in a different state, how do you find what the insurance cost may be in quick and accurate manner?

Depends on what kind of loans are being provided - for instance I work with a private money lender and we have long term rental products with fixed rates of 5,7,10yrs so you don't always have to refinance out of "hard money" immediately.

For instance, the "standard" FICO scores.

For instance, the bathroom has a plastic tub, obviously, if they used scouring powder to clean it there would be scratches, so I wrote down products that are acceptable and not acceptable for different areas of the house. 

So in a lot of instances the good deals won't qualify. 2.)

For instance - if condo sells for 750K.

For instance, you can gain income from the other units by renting out on Airbnb.3.

(When I say "cashflow", I mean the average monthly net across the entire portfolio after mortgages/debt services, taxes, insurance, CapEx, vacancy, and all other expenses are deducted).For the sake of simplicity, let's assume that the investor has NO other sources of income other than their rentals (they don't have a W2 job or anything).Obviously, how much cashflow is "adequate" depends on an investor's unique situation (for instance, $5,000/month cashflow might be great for a person with one rental, but it might be totally insufficient for someone with 500 units....similarly, $1,000/month cashflow might be great if all you've invested is $5k, but $1,000/month cashflow would probably be terrible if you've invested 10 million).So, what cashflow do you consider "adequate" given other relevant factors?...