It is unfortunate that your lender is not willing to cash out or provide heloc, I'm curious what you mean the price is too low?

If you provide excellent housing and excellent service it is likely that your turnover rate will be lower resulting in less future vacancy.

I'd like to simply buy a turnkey rental and make cashflow but I understand that's easier said than done and turnkey properties likely won't provide me ideal ROIs.

From there we identify properties that could have some potential and if you are interesting in diving deeper, 1) we do a thorough video walkthrough to give you a realistic look of the property, 2) we give a ballpark estimate of rehab costs (we do 40 a year with our GCs o we will get pretty close), 3) we talk through market rent with our property management team, ARV, and potential highest and best use.Ideally you find great investor agents who know their market really well and have a network of resources to provide you with enough confidence to take reasonable action. 

We’re still waiting for next steps on that one re: borrower repayment or foreclosure. what type of returns do they provide to investors?

Quote from @Jonah Hartsburg: @James Martin - Have you considered working with a dedicated virtual assistant who can learn your processes and provide general admin support?  

And to top it off, the letter stated 'with capital up to $300,000' and found out from the SOW we provided to them for $65,000 in rehab fees, they were only giving us $40,000. 

I have lived in Hawaii for many years but now that I’m a traveling healthcare provider, I am off island more often than not.When I’m not on contract I would love to have a place to return to and when I’m away I would love to rent it out for some additional income.

Some were unwilling to provide proof of funds.

So if you can do just a few deals a year you can be making some extra money, learning, and establishing yourself so that eventually you can easily transition into being full time.