In NYC trying to compare like properties and eliminating co - op debt, co-ops will sell for 60% to 200% of a comparable condo.  

Back then, the market was more stable, interest rates were below 4.5%, and distressed properties sold at significant discounts.Today, distressed properties often sell at a premium, and cash-out refinance rates are above 8%.The best BRRRR deal I can find today involves buying a property with cash, investing in the rehab with cash, pulling out 75% of the ARV and breaking even on rent and mortgage.

Another option is to sell one or two of them to pay off your LOC and then keep just one.

Do we sell the property and recouperate our investment?

I think a lot of these folks are selling the illusion of secret techniques to get new investors to write a check.

Try being an agent, your phone number is EVERYWHERE and you get targeted by a whole industry that wants to sell you the latest gimmick.Here is what helped me.I answer calls and when it's a telemarketer I will interrupt them and say very friendly (because I don't hate the poor person who gets paid to do this and coached to be ruthless): Hey, so glad you called, can you do me a big favor? 

Give them all a call and see if they are willing to sell and if not are they in the market to buy.

Given your assumptions, you are not going to be able to get enough of a loan to fully cover the rehab, even with a hard money loan, so you'll need to pull in cash from elsewhere.One possibility is to have your mom sell you the house with a personal loan, not one attached to the property. 

The other challenge is selling it, there is a smaller buyer pool for hospitality in a small market but that was known going in Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

There are auctions to sell cars, police auctions, tax impounded auctions, antique auctions, etc.