For the most part it's been a GREAT experience, and profitable.

Hi @Michael Didion I recommend Paper Profits by Josh Andrews.

I don't anticipate the rehab being $50K so whatever I don't spend is profit. 

I’m sure my requirements are high but we both have businesses to run, your profits shouldn’t be put ahead of mine and vice versa. 

They are sometimes used heavily and generate monthly profit while others are barely used and don't even cover the utility expenses, let alone the cost of the machines.

I’ve made $600 profit so far!

Have the correct insurance to cover STR activity in your home (Proper and CBIZ are the two major players in that area) AND have an umbrella policy in place.  

He owns a used car sales business, so what does he profit each year?

But, I am severely a rookie and am going through some major analysis paralysis. 

Schedule C on your taxes is titled "profit & loss for business" so with your STR income now being labeled as a business, (because it is) lenders will want to see consistency and growth in order to be able to use any of the income to offset the STR's debt services.