If not, that's another world you will need to become familiar with (banking & finance of rentals & flips) Plenty of people on BP that can "lend" a hand with that I believe "pun intended" Admittedly, I like real estate and rental returns better than the stock market but there are a lot of details that eat into your margin.

It looks like a great property in an obviously hot market, pardon the pun. 

Welcome to the BP forum @Chris Armstrong you will find a wealth (pun intended) of information and eventually business associates and friends here.I wish you all the best in your investing ventures.

I have no interest (no pun) in ARMs, the future is too unforeseeable for my risk tolerance level. 

You already have some tools in your toolbox....no pun intended.

It sounds like you have really done your homework on this (no college pun intended).

But at this point we're taxing - pun intended - the limits of my knowledge on how this works.  

However, I think the principle (no pun) of paying off debt really helps to set a foundation and a mindset for your investing career.

Hard money has a few different caveats as I recently found out (the “hard” way, pun intended) I understood completely about the upfront points of 2-4% and the high rates of 10-12% but recently got involved with a HM lender that required I come up with the entire rehab budget as a “holdback” and these funds needed to be provided at closing.

You should be able to get an extended season in the spring in the fall with Birders and Photographers who like to flock (pun intended)to that area for the wildlife.Good Luck!