You may do some research on what life is like on both ends and make a decision from there. 

Then check off all the things you need to do to buy a property and get them done (get preapproved, find an agent, contractor, etc.) 

Would love to connect with other investors in the area that are also doing long-term rentals, renovations, and/or short-term rentals.

No sense in paying 9% interest by using equity unless you have to do so.  

I'm a little curious about some of your assumptions: 1) Vacancy at 3% is very low (5%-8% is more common), 2) 5% income and 0% expense growth aren't realistic - more common is to have the difference between your income and expense growth around 1%-2%, 3) Paying P&I during rehab isn't common - normally this is setup as an interest only period until the property is stabilized and then do a DSCR loan, 4) A proforma cap rate of 9.21% is very high for this type of property (this more of a cap rate for a Section 8 property).

We would have to come oop about 400-450 for 2nd HH.Also planing to use other rest of heloc for a dscr or brrr so that would possibly help as well.Would you wait until rates drop to do another HH and just buy the brrr/dscr now?

Do you find it valuable to be a member of the AAPL as a private lender/broker?

I'm interested in doing more HUD-VASH deals, and Sacramento is a market I’ve been exploring.

All they need to do is literally be in abilene.

If they can do it and be a resource for you, there is no reason you can't.