As I pay contractors, for materials, etc., I add it in the check register and class is to the WIP account.

I am hoping that it will basically pay for my mortgage on it. 

@Allan C.its not that the 321 bothers me as much as thinking about paying 5pts+ at the end of it all. 2-3 pts for the interim loan, and another 2-3 pts for the long term loan when rates drop. 

Each option depends on your timeline, but a HELOC or cash-out refinance will likely offer the best long-term value, and it looks like you already qualify as REPS, which can save you 1000s in taxes if you plan your investment correctly.

My employer offered a 25% pay increase, a relocation bonus of $5000(pre-tax), and a guaranteed pay for 40hrs/week.

They mention some local income tax law. 

I don't think you should pay it off, but you should be paying down the principal every month at scale, which you are probably doing if you planned on paying it off in 4 years.

Beyond that, you'll want a reliable contractor for the rehab, a property manager to handle the rentals, and a savvy CPA to optimize your tax strategy.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

She did pay for some of the damage and insurance covered some as well less the deductible which the tenant paid.