I recommend selecting an investment city based on the following criteria.Key Criteria for Choosing an Investment CityRents Must Outpace InflationFinancial freedom depends on rental income growing faster than inflation.

She’s currently not paying rent, and while she has some health issues and no stable income, she’s been communicative and open to general talks, with a possible option to vacate through a cash-for-keys arrangement, though this might take around six weeks and some hard work.I plan to rehab the property and eventually rent it out, potentially to a Section 8 tenant.

I believe it to be a little Southern California hidden treasure for cashflow, mainly class C but if you know what you are doing its a really good option to invest locally in CA with decent returns.

That said, I'm grateful for the alternatives you present--you're keeping the bottom line in mind, so I appreciate your help in exploring options that achieve the bottom line for the investors. 

Our Frequent Users of Airbnb or VRBO discount was launched one year ago and because Airbnb is heavily based on reviews of both guests and hosts, we set the bar higher. 

There is an incredible amount of points to consider when weighing the options on something like this and honestly, I don't recommend it to very many people at all ....even seasoned tradesmen and investors.

Hard money rates are really high right now, plus the rates once I cash out refi are high making it seem like the only option for me, but with the rates on both ends, just doesn't seem to justify.

The reason you would hire a licensed professional is to assist with you not gettting SCAMMED and help you with negotiating prices and terms...based upon State Law. 

It is DSCR based and no personal tax returns are required to qualify.

Looks like you have some good options in front of you @Martin Phinney.