That is in effect what you are doing and f you do not include PM fees in your underwriting.Your maintenance/cap ex fees is likely too low by a factor of 2.You are missing the misc charges like asset protection, bookkeeping/accounting/tax man, utilities due to property issues such as by a slab leak, legal/evictions, etc.The 50% rule is aggressive at this rent point and projects $82/month of cash flow.  

This means that you will need to pay registration and filing fees in at least 2 states if you don’t buy CA property.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfBe sure to tell your accountant that you now need to file non-resident income tax returns in each state where you own property as well.

Have you looked into permit fees, tap fees, impact fees, etc?

Tenant placement is a one time service and is often far more affordable than ongoing management, while still protecting you on the front end.As for compliance, this typically includes:Proper advertising and screening in accordance with Fair Housing lawsConsistent, documented tenant selection criteriaLegally compliant lease agreements and required disclosuresUnderstanding local and state landlord-tenant laws (security deposits, habitability standards, notice requirements, etc.)Correct handling of application fees, background checks and denialsGetting the placement and compliance right from the start significantly reduces risk, stress, and costly mistakes later.

From what many many folks on BP found out it was almost impossible to find deals that fit the criteria for TRUE 100% and they were out the 3k and I think there was a submission fee of 600 or so per file..

For your STR, focus on key tax strategies like depreciation, property expenses, and management fees to reduce taxable income.

Are you house hacking mainly to reduce or eliminate your living expenses and then move on, or are you intentionally stacking smaller “base hit” deals with the goal of building a long-term portfolio?

I’ve been following the forums for a while and wanted to officially introduce myself.My background is in tax strategy and engineering, specifically focused on Cost Segregation.I noticed a huge gap in the market where most "big firms" won't touch deals under $5M (or they charge fees that don't make sense for the deal).

If cleaning is the main driver here, I would urge you to consider Turno to find a cleanerIf its helpeful, I just posted my tech stack I use here for my STRs: https://www.biggerpockets.com/forums/530/topics/1273837-my-s...For finding a cohost though, Airbnb does now have a Find a Cohost feature that shows you reviews of them which I personally havent used but could be a place to start.

You’re not crazy — you’re stacking conservatism on top of conservatism and then asking why nothing works.A few observations from someone who underwrites deals for a living:You’re underwriting like an absentee owner before you’re even an owner.10% CapEx + 10% repairs + 10% management + 7% vacancy is a fully stabilized, hands-off portfolio model.