I am torn between pricing rent lower with a minimum 3 night stay or just weeding out the less desirable/more work clients with higher pricing.  

So your results will be a degree lower than local investors. 

I think it was Airbnb that had suggestions for me to lower my pricing because they were scanning the competition (Booking.com in that scenario) and saw a lower price.  

We were not interested in the initial asking price, but countered with a much lower price.

If rates improve slightly, a cash-out refinance could lower your mortgage rate, but ensure the numbers work with your long-term goals.One thing to consider is your return on equity (ROE).

A lot of local banks tend to have 1-3 year intro periods of lower interest rates for HELOCs, check with some yours. 

Lower appreciation than single family home

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases: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+ (roughly 5% probability of default), 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 (around 10% probability of default), 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.

I tried calculating value based on NOI and cap rate (see below) but I'm new to this and the value seems to come out lower than I would expect.

If it's already turnkey that means you're paying higher rates than necessary when you could put 20% down and get a DSCR loan with lower rates and fees.