As i was driving through the neighborhood scoping the area out i noticed a new shiny fire department.

People that are good at branding and review designation can bury those low reviews and I wouldn't want to own someone's reviews but I am not your audience as far as a projected buyer as we purchased ours for a deal and they are both higher end beach stilt houses that are side by side and neither had been listed as a STR on any platform, we built it up with a direct book site and also use the platforms as well as the local website in the area to book. 

Brandon Turner wrote a book for BP called Investing with Low or No Money Down - start with that.

Also consider contacting houses that look vacant, simply door knocking in a neighborhood that you are interested in and talking to the homeowners in a genuine way, For Sale By Owners is another potential, using an App like Nextdoor or Facebook pages/groups related to local real estate and just telling the group what you are looking for, contractors also know about houses coming on the market soon and so do property management companies, and finally garage sales are a good way to find off-market properties as people prepare to sell.To Your Success!

Maybe they are trying to annoy people with low rate mortgages on purpose to get them to refinance (conspiracy theory alert)?

With just these numbers to go on, if I felt the neighborhood is solid/trending up and not down and assuming your rent projection is realistic, I'd buy it. 

Nor would I pay retail for a property with that low proforma return even though I like PR.  

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

Quote from @Arshiya Taami: Quote from @Brandon Croucier: You have 600,000 problems.Bridge lenders (HML) Want low LTV (65% Max Typically). 

So I had a windfall and can sort of "semi retire" with a part time low stress job.