The off peak is late winter/early spring (March to May) and we've had no less than 30% occupancy with an average of around 45%. 

Meaning walking the home, seeing what needs to be done to get rent ready and completely managing it from start to finish?

How much longer will it take for her to finish he cleaning and painting to her liking, while your losing rental income on the other unit by her essentially occupying 2 units?

I am in the middle of finishing 2 flips there and have 2 long term Holds there as well. 

Additionally, most servicers will provide the tax documents needed at end of year (1099-INT, 1098-INT) and can also issue notices of NSF, late payments and support delinquency /default.

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

It might be best to consider wholesaling it and letting someone else finish the project, break even and move on.

Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification.

Let's say you borrow $100,000 to pay off your $50,000 IRA loan, $25,000 on credit cards, and keep $25,000 for finishing renovations.

You can probably beat $2000/year insurance, but the management fee should be 10%, you need to factor in turnover too and 5% is probably not enough for both maintenance and turnover and I assume you added it, but you didn't mention property taxes (which have been terrible in Jackson County lately since Frank White decided to jack them through the roof).