that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

not sure of COO but solid pine king bed with nightstands. $300.

Some things I would do to make sure you're looking good on closing:- Confirm the property appraised.

Hey Edward just make sure you check the STR zoning before you waste time looking at properties.

Would be interested in connecting to learn more about your experience. 

What sorts of questions can I ask her to learn how much risk this is? 

There is too much to learn at once. 

No Heloc for sure.

Also, I've recently learned about these different REI tactics.

The downpayment and closing costs would be one large hurdle in order to repeat this, I'm not sure how willing lenders are to allow 3 properties a year.