The REO is Fannie Mae, and they have paid to have the interior of the house remodeled before listing it.The current asking price is $280,000.

The market I’m in is great for renters (but the quality of renters can make you pay attention to their applications)  I’m rehabbing the 3rd house now, plan to remodel the 2nd house after I’m complete and then unsure if I should:-obtain traditional mortgage then should I cash out refi and find more property?

True story.Another guy (Surgeon) refused to shake anyone's hand because we were all too "dirty".Another lady (famous singer) refused to let a crew member use the toilet in the house.

I've bought fixer's before, remodeled then sold or kept as rentals but I'm not at all familiar with this "wholesale flipping" concept. 

The presented pics of the house were taken after remodeling in February-March 2021

They were very respectful of my space, despite all the commotion, and they even brought their own toilet paper and butt wipes, ha ha! 

Also the remodel of the home cost 7,000 in expenses.

I had one horror story where a guest's kid flushed a fake plant down the toilet and it resulted in a $4,000 sewer line repair.

Michael, something I want to add to your spot-on comments; I see a lot of inexperienced STR buyers, buying a property to be a STR either on their own (FSBO or through the listing agent), or through a buyer agent that has little to no experience with STR's and who doesn't have a a great STR network, strategy, has no ability to analyze a property's STR potential, doesn't know how to assess and recommend remodel or what it will cost or how long it will take and what's required by city/county, etc.

The last two projects I completed were remodeling the backyard and a gut renovation of the bathroom.