This way you have a free or mostly free refinance from a cost perspective. 

I'm curious as to what cosmetic rehab you have to do that costs $27K? 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

What's the annual ROI on the cost of the points to you in terms of savings?

Inventory is low and sellers won't budge.

Create the payment that’s very low in comparison to what your keeper would bring in rent.  

Getting a mother-in-low to co-sign is not the answer.

My vision for CountOnCam LLC is to be a company that would like to provide a shared housing experience for women and children, immigrants, and low income families.

I found a PM called Hostex.io for the STR so far so good I could not believe the very low annual fee which was less than $90 a year.

Based on my experience of running properties, even if the build were to cost you as much as $600k but you could generate $125k/year, you'd be very happy with that investment.