The property value must be a minimum of $250,000 USD, and the credit score requirement is at least 700 points, among other conditions.

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.

Generally speaking, Boston proper is an appreciation market (low cap rates) unless you have a solid value-add play.

Comps do not lie, if she pulled similar ones then that's what it is but if the agent did not take into account the bedroom and lot size that would change the value.

Unfortunately cap ex usually catches up to them and the appraised value rarely translates to a similar sale experience and all along the property has merely been a highly levered property.

STR's don't create real estate value they are a business  I have a dozen and am building 2 more this year so I like the business model and I have over 100 regular rentals.   

I put 20% down using personal and private lending.How did you add value to the deal?

I focus almost 100% on my pad ready land cost to come up with profitable deals. 20% of gross development value is the most I will pay for land.

If that is all ok then get a very good local realtor to run comps in that area to determine the conservative value of the home once you've completed the renovation work(ARV).

Consider a HELOC for value-added BRRRRs or flips if you have a low interest rate.