I'm currently renting and when  decided I wanted to focus on real estate investing, I decided not to buy in Tampa because of the low MF inventory and in home house hacking is not for me.

So making it my primary is a low bar.   

Your estimate seems low, but even at that cost, it will not add that value.  

Multiple people had some bad things to say about the area, but when I moved and realized that it was a low income area with a lot of homeowners, I was motivated to improve the property to match the effort my neighbors have put in. 

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

Since you’re still figuring out where to invest, look for areas with strong rental demand, good schools, low crime, and potential for future growth.

The median home price is also very low nationwide which creates a low barrier to entry.

Is there a way I can take on the current mortgage payments (at the low rate) and get a new mortgage to make up the difference between the existing mortgage and the current value?

Finally found this one and took advantage of the low interest rates by winning the bidding war with an offer slightly above asking price.

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.