Sam, I am not sure what your long term goals of this property are but I think painting the cabinets could add a nice touch for little cost.

However, the rental market in Canton has been relatively strong, and I believe there is potential for decent rental income probably $3500, even if it doesn't meet the 1% rule perfectly.Cash Position: My cash position is fairly stable, but I prefer to hold onto this property long-term rather than pursuing another house hack immediately.

LTV caps will range from 70-85%, although terms will probably be horrible at 85%. 

Please pardon my "verbose - ness" lol warmest regards shannon  Price it as a room rental or consider short term rental as guests don't need a full kitchen for that. 

In terms of lease agreements you can tell the tenet to leave and at what point? 

But I also think the real gains in real estate are not in cash flow but in long-term appreciation.

Borrowing this kind of money to fund aggressive spend on growth in a high gross margin industry is once thing; covering Op-ex shortfalls is indicative of near term distress. 

I cant tell you what to do , but investing in rentals over the long term has been great for me , some times there are more repairs , sometimes less , but thats just the nature of the business

Borrowers that purchased during the last 24 months, particularly with alternative mortgages such as DSCR loans at elevated rates could see worthwhile refinancing scenarios in the very near term just as any early payoff penalties are expiring. 

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.