Rip all the ceilings out, install furring strips and drywall.

I am responding as a consumer not a STR owner we had one its lasted for us for exactly one tenant then we felt it was too much work for the return  on investment we do much better loaning money and buidling new homes than to worry about people goofing up our homes :)I do have some MTR you know fully furnished homes in Vegas and those are money makers for us top of the line tneants paying double the going rate for rent.

This is why I use a loan broker...I want his experience with who can do what they say and who is a delay. 

To fund your next deal, explore conventional loans (15-25% down), FHA loans (3.5% down for house hacking), DSCR loans (based on rental income), or HELOC/cash-out refinance if you have equity.

You may not be able to easily separate that property from the loan to make that happen. 4.

@Enrique Toledo  If the seller is firm at 10% down, you can always get a personal loan for that 10%. 

Give me a shout if you'd like a rate quote for your DSCR loan.

I would get a bridge loan to acquire the property if it needs to be rehabbed and/or closed quickly.

You won’t find many seller-financing deals here, so if you're looking to scale quickly, your next best option is the BRRRR method—using cash or hard money to acquire properties and DSCR loans to refinance into. 

FHA loans follow very strict guidelines when it comes to property condition.