Kieran, the best bet here is to refinance with a DSCR loan.

Unlike a mortgage the interest on your loan will not be tax deductible.

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile. 

If I am doing the security deposit I want to quickly see how old that carpet or paint is.

I might have a private lender referral that does rural loans in Mid-MO if you're interested. 

Pay Down the Loan Faster:I’m considering applying $40,000 annually to the loan principal.

Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

Another thought - are you considering an FHA loan on the next one?

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.