My wife and I are starting our investment journey and have our heart set on Anna Maria Island for our first STR/BRRRR.

If it cost you $5000 to install, use that as your starting point.

Hey @Jennifer Lopez, here is a spreadsheet you can start with that I used and have shared on BP for a long time. 

Just starting out.

So, whatever I decide needs to be VERY GOOD from the start!

Many owners use it as a resource once they start their search and come across the NARPM website.

The key is start ASAP.   

Listed our first STR property last month and started using Guesty for Hosts as my management software to consolidate across platforms.

Someone with one newer aged rental, who has a rather high income, such as a surgeon who lives alone comfortably with a lot of disposable income, could possibly carry less than a Mr and Mrs just starting out, with one rental that they bought as a turnkey in a more downtrodden neighborhood in a different state.

If your why on investing in real estate is to make extra money, that's a start, but it's not the real why.