She came out of a recent divorce with close to $1M liquid and a credit score in the 800's, has history as a successful GC/landlady, but after liquidating her previous rental properties due to divorce 2 years ago, no longer has recent income.

It could mean that the neighborhood is gentrifying, if it was a lower income neighborhood in the past.

Is it possible to use the projected income of a str property built in 2024 and use that income to help qualify for a heloc on another property

That is about right for pricing, IMO this whole lead thing is a total scam, just and income generator for the city 

Monthly income from the rental is $3,400 ($3,100+$300).

Starting my wholesale journey right now :)I have some experience in buying real estate for rentals and flips.As a rule I made for myself, I won't work in areas where I know crime levels are high and are generally low income areas, becasue I know how hard it is to sell them (if its a fix & flips) or rent them.Nowadays I'm looking into starting my wholesale business and was curious about that...Does it matter for the cash buyers?

You can potentially own the property with no out of pocket costs (rent covers expenses and then some) PLUS you get the added benefits of equity, appreciation, and continuous income from the rent/cash flow.  

If you are looking to repeat the house hacking process by vacating your house every year and also being able to use the rental income, you would want to make sure to get the lease fully executed and lease term would be minimum 12months.

I have good credit, but not sure how to obtain financing with my current income so I am looking for financing options that don't require me to provide 2 years proof of income.My current plan is to do the following but would like a professional opinion before proceeding.

If its a 2-4 unit you only need 15% down using a True Portfolio program and you have DSCR as a back up that uses the STR rents to qualify and avoid personal tax returns or income.