A 3% increase is a nuisance increase in this economy, I'd bet you're under renting at that pace. 

And wouldn't it also require that rents increase at a proportional pace to then be able to service the post-refi debt with a sufficient DCR?

You'll be on county time & that is never at a quick pace. 

Or does it really just depend on my pace to rehab the property?

I have been doing research on NE Pensacola and Pace area so far.

The more situations you put yourself in the faster pace you will grow.

It sounds like you are possibly contorting your investing strategy and pace to match the deal that is on the table rather than negotiating the deal to fit your needs.

@Mark Pace I thought they were trying to close beaches.

Although forecasters are growing more pessimistic about the impacts of the virus, it is important to note that most are still calling growth—it will just be a much slower pace of growth than originally anticipated.

Just like the GFC.. only this time instead of taking a few years for lenders to figure out they were fubared this seems to be moving at a very fast pace without a bunch of red tap.