STR, for me in my eyes, PAR is 40%. 

2) Buying Class C BRRRs that need at least $20k of workHere's some metrics to consider:Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Tenant relations goes a long way toward building goodwill.

From what I'm seeing, this is actually SFHs and last month we were sitting at 4.5 months for SFHs (I believe condos were around 8.1 months).

The more deals you evaluate, the sharper your eye will get.Drago

If it’s not stabilized, then technically you can raise to market, but you’ll want to be careful given her long tenancy, age, and the fact she’s a “good tenant” who adds value by caring for the property.Market for a 1BR with 2 baths in Queens could easily be $1,800–$2,200+ depending on the neighborhood, so she’s well below market.

Also, goal is long term holding to build retirement income.

if you're closer, you can go to the property, put eyes on yourself, and get 5 quotes if you want.I'm just going to try to make my point one more time.  

For a long term loan product of a house of that value, you'd need to try local banks and credit unions. 

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.