I'd recommend having enough to close on the deal + rehab + $5k in reserve as a minimum. 

Assign it to a collection agency on a contingency basis. 

However, this is a conservative regional bank, that is on the NASDAQ, so maybe that’s the issue?

You can use it as a downpayment on a property over $450k and use leverage tax free.

Several factors at play: the sales market has been slow so many would-be sellers are converting houses they can’t sell to rentals, lots of new construction units have been completed recently, and in-migration has slowed down a bit.

What's left after all that is your cash flow.Collecting cash flow to spend is an amateur play.

Not really sure how to go about financing but we're planning on having a down payment at or slightly above $100,000 and don't want to pay more than $3100ish per month. 

Once that's covered, you can go all-in on those fabulous renovations.Effective marketing plays a pivotal role in attracting tenants and increasing property appeal.

Today I would probably figure out to make money online with AI, that's an opportunity that did not exist in this form.

I have already been fully qualified for both the line of credit and DSCR.