Given that I will be brand new to this, I anticipate having to rent the room at $75/night on average until I am able to build up solid reviews and raise the nightly rate closer to market.

No security deposit anticipates such extremes.

If appreciation is anticipated in one, this will be reflected in the cost of acquisition and will reduce cash flow.At least initially.For two properties, one acquired for $50K, the other for $500K, but otherwise alike in every other way, the difference in cost of ownership will narrow as decades pass by and maintenance and repairs costs mount.And this is your point @David Song, I believe.  

Rents are below market, so we are anticipating the tenants will be moving.  

@Alex Johnston I anticipate running into a similar situation Good Post...

I don't anticipate needing numerous transactions as I might for note investing or rental property inside the account.  

But if she put in a decent amount of hours, followed up consistently with the seller and got you a better deal than you had anticipated, then she probably deserve a decent commission.

I have ran into a problem I did not anticipate.

I agree with @James Wise, in that the most favorable option is to require an additional pet fee/deposit, based on the additional wear you anticipate to your unit.

The contractors around here are wild, since regular home owners are pulling out $300k to build a second unit they anticipate they can charge investors the same.