All 3 units were occupied very quickly and the property is now cashflowing above our projections with vacancy rate (so far) below what we expected!

If you are managing one property, I would just create an excel file.Expenses will be linens, advertising, and all of the usual office expenses.No need for any software with one property.GOOD LUCK! 

Our broker mentioned that the average interest rate is 7.5-9% and they have never seen the rates drop below 7%.

Marie is an old city with a high vacancy rate, declining population, poor tenant quality, and will never see any meaningful appreciation.

The only downside to these is they are typically higher interest rates and shorter terms. 

So one by one they halved the values and almost doubled the tax rate.

After doing this, I then run the property through Airdna.co and/or Mashvisor.com  Both of these tools will give you projections of what type of rental rates, price per night, bookings, occupancy, seasonal variations, etc. 

I look for low crime rates, good schools, high rent to value ratios sometimes as high as the 3% rule. 

The conventional loan rate was 7.625% for 30- years on a selling price of $100k What made you interested in investing in this type of deal?

Guess what since previous weak tenant was market rent you are losing your ***.I look at high cap stuff when it's few years left ( blend and extend ) or it can be weaker tenant at higher cap rate like 10 cap BUT I want them paying about half the going market rent for the building size or less in that market.