While it would be nice to sell without having to worry about cap gains at that time I'm looking for cash flow in my portfolio and with the renos this property should provide years of low maintenance rental income and a nice bit of equity we can draw out for future investment.  

I’m seeing low cost properties but in pretty rural areas.

My credit is good/excellent.

Our primary residence along with our vacation home is worth about $1.4 million, have a million in stocks etc.. credit score is 700+  How the heck do we get qualified for a loan? 

If you have an LLC (or willing to open an LLC) and a decent credit score (or a cosigner who has the credit), you should be able to pull cash out of this rental / purchase another rental.

@Michael MaloneyYou could explain that moving into a different unit would not only require first last and security but also a credit and background check.

At the end of the day it is $100 on a purchase that is likely low 6 figures.

You’re too low and you could have had a professional PM for free or you’re too high, and after one month’s vacancy, you could have a professional PM for free. 

. - based on personal Income, Credit, DTI, etc (1-8 days)3.

There's very low chance of a flood there.