My agent also mentioned resources that could be of assistance for that. 

You already mentioned Mid term, which can be a great way to increase cash flow.

I know nothing about that stuff but hear it mentioned all the time.

Then when someone mentions it you call it a red heading and say it has has nothing to do with it. 

I started looking at the area about 8 years ago after my dad mentioned it.

Assuming the ARV you mentioned is accurate, at 75% LTV you'd be able to pull enough equity to cover your existing payoff, refi costs and walk away with a good chunk of cash in your pocket.

So, as previously mentioned, the rules can be changed at the developer's whim.

As mentioned above this will catch up to you and bite you. 

I've also seen DSCR mentioned on more than one occasion in the forums.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.