Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

Costs will seem high relative to the loan amount on these smaller loans, $5-6k in lender fees isn't uncommon. 

I would also give her x amount of days to move but let her know you will have to charge a prorated fee per day after that to move for occupying both units. 

It's been great - the property is 100% paid off and the house is worth 300-340k generating approx $2300/mo (that's after utilities/management fees etc.)I'm considering selling the property to buy 3 more within the same price range in the same market. 

If you're new to investing, keeping an eye on property taxes and HOA fees in this area is also key. 

Commercial buildings use triple net , and those costs get passed on to the tenants thru CAM fees . 

., commissions, fees) and consider a 1031 exchange to defer gains by reinvesting in another property.This post does not create a CPA-Client relationship.

HELOCs are usually variable rate and there may be yearly fees associated with maintaining the HELOC.

You will pay for the higher risk with higher rates and origination fees but if the deal makes sense then congrats.

Also who pays servicing fees. if curious to learn more reach out.