And make sure that all items necessary for you to get the best rate possible from your carrier (like 4 point inspections, roof attachment points, pool enclosures etc) are present or available.One nasty little factor that can't be helped is that every time you buy a property for more than than last owner paid - you will have a tax bump due to re-assessment. 

I blew insulation inside the house and also found some roof areas that were leaking a small bit.

We can definitely explore options for a mortgage on your $350k property to fund both your current renovation and the purchase of your next investment property.For the new property, we can also consider a separate mortgage to cover its purchase and rehab costs.Regarding the rural location, while it may limit leverage to around 65% of the property's price/value, we can work within these parameters.Given your equity position and experience, I'm confident we can structure a solution that meets your needs.

We put in around $30,000 to replace the roof, floors, paint and kitchen.

If you want to add more, get an umbrella to cover everything.

Even if you had a dozen mid term rentals in a cash flow market (which would probably be $2-3M of property), you're probably only going to net $4-5k/month hoping to avoid the big capex expense like a roof or furnace.

Older buildings with older systems: plumbing, electric, HVAC, roof, tend to have more maintenance costs than newer properties.  

Pros is no prepayment penalty and dont care if rent covers mortgage as long as you are able to repay.Downside: Prepayment penalty. 

Also the inspection photos show some of the roof joists look like they're partially cracked.   

I'm located in Northeast Georgia, and we're currently seeing a trend where specific incentives are being directed more towards covering closing costs rather than rate buydowns.