What is the nightly rates average (base that on the size of place you are thinking of getting), what kind of amenities?

There are about 7 SFH in the surrounding 2 mile radius, all about the same size (3-4 bedrooms), and all listed around the same price ($2500-3100). 

As a lender our minimum loan size is $50,000, but as a loan design for repairing properties the minimum loan size does not have to be met at purchase.

You can create furnace filter size, when XYZ got installed, lockbox number, etc.

Finding renters with rents north of $3500 for this size of property could take it's time.

Have your broker or banker pull and send you rent comps / market concessions / etc. from like kind / vintage / size properties in the immediate neighborhood surrounding your asset in Baton Rouge, and then make a value judgement on whether you have room to push.

What is the unit mix and size of units?

Your yard requirements may very well start inside the easements reducing the buildable area as compared to a lot of the same size without those easements.

I think the average inventory size is like 4 months right now.

That's a good size area so I would continue to market and figure out which way can convert the best.