Been a while since I had a "lead" call in and say they expect to quit their job off cashflow of 1-3 assets. 

I suspect maybe something like Hagerstown or Cumberland, which yeah are Class D like markets with declining populations, high drug problems, no strong job base which leads to non paying tenants.

I find it a great way to earn additional compensation as long as its a deal I like with conservative leverage and strong operators I trust. 

Plus, you get amazing appreciation potential due to how much population growth, job growth, and companies moving and developing here.

Construction crews leave their tools and materials on job sites with doors unlocked and theft is extremely rare.Location, location, location.

If you have an awesome job and love living where you are, there is no shame in staying put! 

This will create your new basis.From an operational perspective, you might want to touch up a few things on the place to make it more rentable. 

What will happen if she is late with rent or loses her job and can't pay rent for a few months?

Rarely do they like such units being operated in such way.

Look for a market that is growing in population and jobs so that you can get in the way of obvious appreciation.