I used to manage my own STR on Airbnb hence, I kept a majority of the payout.

No lender offers 100% for everyone so there would be major caveat to that. 100% of rehab costs are normal.

Here's one thing we need to close... then here's another now that you cleared that hurdle.Are you dealing with a major lender, or is this a private lender, or what?  

Next time on a MAJOR renovation project, I'd have the City of Johnson City Building Inspector join me for a pre-purchase tour to tell me what permits and what jobs they'll require of me.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

(My day job was and still is selling advertising for major events).

This is such a major issue with insurance carriers.

It’s 2 blocks off of a major road.

It may seem like an expense when times are good and you have a good tenant, but if or when anything more major comes up that requires an eviction, you would be wishing you had a person locally to handle these issues.  

Quote from @Brenden Evans: A large percentage of investors (maybe the majority) never really learn to manage their properties well.