@Rys F.Be careful on the dumpsters - they get filled the trades will hit you up for delays and lost productivity if they are full and not emptied and they cannot do their work.

Hey- Tiamo from the BiggerPockets product team here.

And that’s what ppl think they can find if they listen to real estate podcasts that set improper expectations (and really just want them to spend money on their products/deals)That being said year 1/2 can be rough with unexpected (should have expected) repairs from the prior owner.

However, this is pretty much doing a BRRRR now which I've never done, don't have the time and is capital intensive (plus, I'm out of town) which doesn't seem too appealing.While I could just weather out the cashflow and bank on the appreciation over time, I feel my return on equity is poor, and that equity can be put elsewhere to be more productive.

@Joseph Chiofalo has some great nationwide STR investment loan products and fixed rate second/Helocs for investors loans clients tapped into recently. 

If so, how was your experience with their service and loan products?

That is your message, your business, your modiel, your product , your service.

If the lender you talked to only has this option, you should shop around for lenders that have other loan products-80% cash-out refinance is going to be challenging in any circumstances, but especially with a short seasoning period. 

Mary,I am not aware of a normal insurance product that would cover more than Replacement cost for most structures.  

Some lenders will waive escrow accounts- some for free depending on the loan product and down payment and some with a .25 add to the current rate.