Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

We are selling off our beach properties due to the rising costs of everything beach related, and the aggravation of property management companies. 

I do not recall there being a cost seg portion related to the STRs that make It better but I'm sure doing a standard cost set will also help for tax purposes depending on your goals. 

I think the goal in your early years is to learn as much as you can about the industry (inside an out) and increase your income so you can have the reserves, and closing funds needed to buy rentals or potential flips. 

Even then the rent only goes up a certain percentage of the renovation costs.

Yes it's possible she may not have it in great shape when she moves out but at least you get the property back earlier and can hopefully move on with a better tenant vs. the potential have having her hold over and having to go through eviction and her for sure not leaving it in good condition.   

Get a good idea on what kind of property you can afford and understanding what that cost of capital will be.4) On the investment side most lenders can lend nearly nationwide!

Many people in your position consider speaking with potential partners and co-signers.The co-op/condo market offers more options within your price range.

While rental ROI appears to be attractive even after carrying costs, the 11% transfer tax when you sell seems like a turn off.

(Looking for books, magazines, websites, job opportunities potentially, etc).