If it makes it easier to understand, HOPES is under the Elite program. As has been mentioned, it is for younger gymnasts to train and compete like elite before they actually compete elite. So just consider HOPES and elite one and the same with the distinction being age groups. Yes, the skill requirements are not the same as elite and you are essentially asking these younger girls to show level 9-10ish skills (some may have bigger skills already). The big change is gymnasts have to use FIG settings and to qualify for HOPES, like elite, they will need to meet scores at a compulsory and optional meet. These meets are held a couple of times a year, sometimes in conjunction with larger JO meets sometimes separate. The compulsory meet is just like those L1-5 meets, everyone has a set routine that they have to show, relatively easy to make score here. The optional meets are where they need to show the appropriate skills in a routine. You have to meet a certain score at the compulsory meet to advance to the optional meet and then a certain score to qualify you as a HOPES athlete which means you now can compete in 2 or 3 meets for HOPES qualified athletes. I think these are winter classic, classic and championships? Also, and I could be wrong but I know this for elites, if you are a HOPES qualified athlete you cannot compete in JO. So many many many hours in the gym training for only a few meets.
The specific skills needed are best asked of your coach, but this is my parent's viewpoint/understanding. Training would be just like as elite, expect more hours, pushing harder and bigger skills, and intense conditioning. Extra $$ for the qualifying meets. In my opinion (and I appreciate there are many different ones out there) unless your daughter has a very strong desire to attain that goal to say she was/is an elite OR the indirect benefit of potential college opportunities is important, I would advise against it. And remember there are plenty of girls that make college teams as solid L10s.