that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I’d also recommend getting a few quotes, including at least one from a mortgage broker.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

Would you share 3 specific things I should do during my "training period" (if it includes a book, which one)?

The good news is that there are plenty of great CPAs out there including on these forums.We did have a conversation with him, which is why we selected him in the first place.

Include in your model rates going up by 2%, and just make sure you enough cash to cover. 

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

Now what the hell is the SEC doing for all of the investors including myself.

Hey, how about that genius move to turn OFF the power, including to the water pumps.