Defining the class of the neighborhoods is the tough one to start that grade C out for...I have some clients unused to the mid-west who are used to high-end suburbs who consider our better areas a B- area.Personally, I classify the C- anything I verify I have easy access to my spare magazine before I enter a vacant property.

I would just communicate that you strive to maintain a high quality property and charge under market prices.

The issue with high interest rates is they are even higher for foreign investors.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Have you ever noticed that people can send you a picture of themselves and then when you see them in person you think they look a way different?

Very simplified version but I hope it paints a picture. 

I practiced analyzing a deal with my friend the other day and the ROI I got back seemed really high lol.

Houfy is a great cheap option, but I highly recommend creating a branded website to enhance your guest experience and be able to house resources, local favorites, etc. 

I would highly take his advice on a lot of this.  

Unless you're renting to people who cram dozens of people into every corner and share beds, etc....I would go high class and do (2) 10 x 12's, that's only 240 SF and leaves you 300 SF for living/kitchen....do a Jack n jill bathroom between the bedrooms...