Typically, distressed properties literally sell for Market Price - Expected Rehab Costs, so any equity gained is mostly sweat equity.

It costs a lot of money to have people fact check this spreadsheet.

Because of the increased rent from having 3/2 vs 3/1 of $800 per month with added rehab cost of $25k, my break even is 2.6 years.

STR looks like an attractive option but I am a novice in this area so looking for input on realistic income and cost estimates of a STR managed by a 3rd party property management company. 

Lots of low cost options to get in dependent upon credit, etc.

I am growing slowly and the larger platforms were creating unneeded complexity and cost for my business needs.  

We don't sell you the home as they do, rather build it out at cost +fee for you, allowing investors to enjoy the upside in price.

Double digit loans of $250-500k can be both cost and qualifying prohibitive.

When you gut a space, costs spiral exponentially because you need to bring everything up to current code!

If rates DO come down in the future you can consider refinancing, but don't forget there are costs associated with that as well.