@Ryan Murdock Thanks Ryan,Thats what we are leaning to since the cash flow will come out negative after running it through the rental calculator.  

If the meter starts spinning when you turn it on you have water running from an open valve or a leak.

It won't be a large return at first, but the knowledge gained may be worth it in the long run.

I've been able to run my own title search through the city and all leads keep coming up cold.

@Robert Evans Brian Trippe (local investor) runs the AlaREIA and would be a great person to connect with.  

I would think the involvement of any such association could be a hindrance to running a legal short term rental since so many restrict them. 

I appreciate your comments, there were a few things that I wouldn't have picked up on, it's always good to run things by some fresh eyes.

Here is their deal breakdown: Purchase Price: $189,000 Down Payment (3% conventional): $5,760 Value Add: ~$5000 (Installation of A/C, plumbing updates, and miscellaneous items)Rent form September 2017-July 2018: $11,400 (Owner Occupied & rented other rooms)Rent from August 2018 to July 2018: $18,000Brian Glasser, the Team Leader in Kansas City, has hit the ground running with building his real estate investment portfolio.

You will find that buyers and sellers in the investor world run in the same circles and talk to each other.  

Definitely what I see investors run into most often is not doing enough homework on the back end and getting crazy numbers from contractors that are just unrealistic!