I'll usually eat $100 - $200 worth of touch-up cleaning for a long-term tenant.

And there you are in luck because you can purchase any type of investment property anywhere in the country and defer all tax as long as you purchase at least as much as your net sale. and use all of your proceeds from the sale in the purchase. 

How feasible would it be to transition her to Section 8, and how long could this process take in Brooklyn, NY? 

I would have asked you what your long-term goal is but you have already thought about it.

If I don't to that, then my interest rate goes up.This is completely new to me, and it's a bit of a bummer since that would delay me getting my first STR that I have been saving up to get for a long time.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

The sale of our home will provide us with approximately $150,000 to allocate toward investments.At this stage, we feel most comfortable focusing on long-term rentals.

There are couple more but that will take too long to detail. 

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

Quote from @Srikanth Kumar: Hi Everyone,I’m relatively new to long-distance investing and am exploring the purchase of multifamily properties in Cleveland.