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.

Networking with the professionals in your market will start to open doors and opportunities to collaborate will arise! 

I was aware of the egress requirement, but was not considering the door size or ceiling heights.

That's also a next door neighbor as a connection for future development projects he might be interested in investing in.  

It was the tail end of high season and while I knew I could get a higher ADR on my own (I own the unit next door and know the market very well), I would have had to make some changes before listing it myself to do better and in this case, time was money.2.  

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

Greatly increased lending capital by transitioning from a ‘blind pool” fund to a series LLC / syndication model where investors know the property lending deal before committing to any loan and can “pick and choose” whichever loans they do or do not want to participate in.  

You've listed the "big three", and those are all that are needed for most MTRs, especially if you have a limited number of doors in an area.

Cities and states with the highest eviction rates:  https://www.foxbusiness.com/economy/evictions-surging-rising...https://www.newamerica.org/future-land-housing/reports/displ....https://evictionlab.org/rankings/#/evictions?

I think your demographic might be more hotel people rather than families.I would also still go with smart locks on every door.