As mentioned above it there are dozens if not a hundred+ small items that are easy to forget that guests will expect you to have (can opener, wine opener, oven mitts etc) 

@Justin Sherman, this market is tough to make the numbers work because of what you mentioned - high rates and prices still rising.

So ReSimpli wins out in this category.I know I mentioned good support but also they have really good onboarding as well.

This was also not mentioned until today. 

I mention all this to in short say, expect very high maintenance on the front end. 

And it could take even longer than 6-12 months to find a replacement depending on the area.The other things to look at carefully are major Capex or maintenance expenses - you didn't mention whether this was a NNN lease.

You can refinance into a FHA 203k or like @Jason Wray mentioned you could even use a Fannie May homestyle renovation loan as well!  

$6k tax.Ins,hoa, not to mention utilities . took out a HELOC off of our personal home ( res.worth $900k, and a 260sq ft studio, mtr. $1450 mo.) for$ 220,000 for the deposit.

The 2 deals that I mentioned in my original post, I bought through the same broker out of Tempe.

8%-11% is pretty standard here and as someone mentioned it really just depends on how the company is run.