Also be aware that there are prepayment penalties on these loans so you would need to keep it for 3-5 years unless you decrease the period which will result in a higher rate 

So in most cases operating cash flow will actually decrease because you're servicing more debt (this is offset by the cash out refi so it's still usually a net gain). 

@Alyson Gordon we were originally looking at LTR for the decreased involvement and not needing to furnish a place (and some HOAs are LTR only), but I had not considered corporate housing before; from some brief research looks like this is likely a furnish-required.

There is current negative cashflow at the listing price, little potential for upside, a significantly reduced offer price is required just to break-even or significant rent increases and utility decreases.

This will decrease your Debt-To-Income Ratio to be more favorable with banks for loans and will improve your credit score as you mentioned. 

Will it decrease vacancy?

.$300 additional each month should drastically decrease the time it takes to pay off your mortgage. 

I do know everyone was expecting rates to decrease in 2024 and here we are, 8 weeks in and they've gone up 35 bps.

So if that Sec. 8 tenant has to leave for whatever reason there's a chance your next tenant may not be Section 8 and thus your rent could decrease.

And if you're going to manage yourself, it doesn't matter.The pool of buyers decreases as the access to property management decreases.