Google Fannie Mae and Freddie Mac Multifamily and you will find the programs with the basic terms on their respective websites.

I just respect their suggestions, pay them promptly, bake them banana bread from time to time...BTW: a 4 plex for $25K?

Please don't perpetuate this erroneous definition.To be a good operator, you provide a safe, clean, sanitary, well-maintained property at affordable rents, AND you screen and only retain tenants who abide by your rules and treat the property and neighbors respectfully.

If parties challenge tax sales, the grantees and opposing parties litigate to determine their respective rights.This is for your state I looked it up. 

The numbers I'm using could be taken literally with respect to each other, as in, the difference between rent going up and expenses going up is equal to the net increase of rents going up 10%.)   

@Lincoln Tudor:  respectfully, this type of question should be asked and answered BEFORE you go into contract with a real live seller, imho. 

@Michael Wayne Fraze III If you have selected the area you like for vacation rentals 100%, I can respect that.

Something that's not mentioned on this forum much though- watch out for midwestern markets that cash flow well w/ respect to price:rent ratio, but have an excess of rental housing supply relative to the tenant pool.

Respectfully,Edward O.

If she's serious, I would be respectfully tactful yet considerate; I'd take her @ her word, but I'd still leave the final resolution up to her... maybe just help draw whatever that is out of her.