If I can make a suggestion...Yes with 3 points you might be able to get into the 6's - but let me give a quick example:Let's say loan amount is $250k and making some other assumptions, paying 3 points down would cost $7,500 however that might only save $195/mo. 

Finding a condo that allows Airbnb/STR will be challenging, they're rare and cost more because of it. 

What is the cost of the service?

(So unless they sell for much more than they paid they will only get a small percent of their down back, especially after selling costs,) but you did say they were getting a discount.

That could make financing the rehab a little smoother.3.FHA 203(k): If the rehab costs and scope fit within the FHA guidelines, refinancing into a 203(k) loan could work.

Can she pay you that same amount to cover some of the costs? 

For those curious about the numbers:Purchase Price: $95,000Renovation Costs: ~$4,000ARV: ~$140,000Expected Rent: ~$1,500Thank you again for being an incredible resource.

And they’ve cost me alone well over $30k in damages and lost rent thanks to their complete negligence.

Don't forget, you’re going to be out 10%+ in closing costs so you’ll walk with zero cash and pin your hopes on them paying you 20-30 years from now if that’s all they put down. 

It was a huge investment, but it cut the electricity cost by the full 2K per/mo all summer.