Although that cash flow number might not be there until year 2 as usually that first year of a new STR tends to be lower rent. 

I have done business with Dominion for their 30 year DSCR product. 

There are plenty of people in this country with loans originated a few years ago in the  3's.

That's a step in the right direction, because if you extrapolate that out, that would be $120K in a year. 

Refi if you can get a rate that leads to a payment around what you have now on the HELOC.If you plan to hold the rental for 5+ years, you can even buy points to get a lower rate.

Here’s the rundown—the good, the bad, and the ugly:Property Details:Location: Pensacola, FL – 15 minutes from downtown.Size: 5 bedrooms, 2.5 baths, 3,147 sq ft on a spacious .56-acre corner lot.Mortgage: FHA 30-year fixed at 2.875% with PMI; current balance $268K.

As someone else mentioned, the 5 year old is simply being a 5 year old. 

But here goes, I would not wait, I just bought 3 brand new houses and got 4.75% fixed for 30 years and 4.25% fixed for 10 years then variable for thenext 20 years. 

You excluded your capital gains 3.5 years ago.

My assumption would be to offer full asking price, an interest rate around 5-6%, shorter term with balloon payment after 5 years, and monthly payment around half the rent income ($2K).