Also we've averaged about 10-15 nights of occupancy over the last few months. any input appreciated. 

Historically, Charlotte has never experienced more than two months of this level of inventory in any given year.Days on Market Has DoubledCompared to last summer, the average Days on Market for rental properties has doubled, making it clear that tenant demand isn’t keeping up with supply.Why Is This Happening?

If one has high living expenses, cash flow doesn't mean much and I definitely understand going for appreciation first.

Its expensive, but we have used this since 2009!

my first question is define net profit...do you actually meant net profit, aka taking into account all expenses etc?

.: Quote from @Cameron Moore: Another example: the average roof in DFW is replaced every 6 years and the average cost is $40k.

@Jason Dubon I use a percentage of the rental income to prepare for expenses.

I am subletting a property that I am planning on purchasing the set up where instead of any type of security deposit I am re-having the property which is necessary before I rent it out.I will have about $20,000 in expenses all before I purchased the property.

Is anyone flipping in a market where this is "average"? 

20% is about average for a short term rental as far as management fees go.