Consumer sentiment is expected to improve with inflation easing.

Another thing to note, certain renovation costs can be eligible for Qualified Improvement Property (QIP).

Read books, attend seminars, or consult with financial advisors to continuously improve your knowledge and make informed decisions.

Complete home improvement project.

@Marcus GriffinOption 1 offers a lower monthly payment and lower interest rate for a subject-to property loan, but requires a $14k upfront payment, potentially affecting liquidity for property improvements or investments.

All four of the options you outline I believe work in today's market and with the ability to refinance after a rehab, you may be able to break even or cash flow with an improved equity position. 

As a first-time investor, you might find it easier to start with properties built after 1975, as building codes improved significantly around this time, particularly regarding wiring and plumbing, which can reduce the number of surprises and costly repairs.

They accepted terms for creative financing for 1 year allowing me time to improve rents and refinance with very little down payment.

Operators that are open and able to offer combined usages for slower seasons, such as mid term discounted extended stay rates in the winter, can improve lower estimated production in the off-seasons. 

You can also consider increasing your deductible to lower the premium, assuming you have enough reserves for emergencies.Energy Efficiency Improvements→ If you cover utilities for your rental properties, look into energy-efficient upgrades (such as LED lighting, better insulation, or energy-efficient appliances).