The cash you get coming out isn't income, it's a loan, so you have very favorable (non-existent) tax issues. 

You could always offer a shorter lease that ends in May/June to give yourself an opportunity to find new tenants or raise the rent to market at that time.I hope this helps and if you ever need any guidance or want to chat about the process of assuming an existing loan, I would love to connect! 

Doubtful that, unless you have existing connections or are part of the Hotel Association of New York City (or what is the funded organization in your area), you would be able to cash in on that.I don't do business in New York or CT, and am open to being corrected by someone local.  

The new bathroom will be constructed within the existing structure, and while electrical wiring might be needed, plumbing installation is definite.

There is a reason why PMs exist and why they manage based on location.I'm not sure how often you're flying to Detroit and checking up on your properties but having someone do consistent walk-throughs at least three times a year is incredibly important.

Your agent should be able to assist with this, but typically you need estoppel agreements to transfer the lease from the existing owner to yourself. 

-BRRRR is non-existent.  

You owe $65k to your existing lending.If you refinance, depending on your FICO, you get up to 80% LTV of the new value, meaning a loan for $80k.

Is your existing property that good, that you can sale within the timeframe near the price you want? 

It will be difficult finding a second position lender on a primary purchase (IF THEY EXIST AT ALL).