This analysis neglects all taxable consequences(which are generally favorable to you,) and all changes in asset value. 

Then the loan officer calls up the $4K guy and says "can you do me a favor and do it in 2 weeks". 

I hope things work out in your favor!

Do yourself a favor and get single family homes in the city and upgrade them with countertops/flooring/paint.

For investors that operate in this fashion, generally the money finds them as they are not reeking of desperation to fund their next deal.  

House hacking would get you in with a lower down payment using an FHA loan, and that is pretty favorable.

If they can't call/text you back in a timely fashion, they'll be sloppy in their work also. - Inspection is done by the city/township, so as long as you're working with a licensed GC, it's fairly straightforward; it'll just have more line items due to extensiveness of damage that has to be remedied. - Also, most Restoration/Renovation companies that specialize in rehabbing fire damaged properties will use a web based tool called Xactimate for a comprehensive scope of work, which may at times be, as long as 300 pages.

Our investor rates are going to be 8% pref, 60/40 split in LP investors' favor.

Just found out how old fashion that is. 

A good agent understands leverage and you want that working in your favor.