Because of COVID, I am unemployed at the moment but still have substantial savings where I can make the mortgage payment by doing short term rentals. 

You’d likely get repaid by your bank but will pay hell and it won’t be in any sort of timely manner; especially it was a substantial sum.

@Greg Dickerson I am trying but having difficulty with lead gen and my sphere of influence is too young :/

As Robert Beardsley says, you could do those improvements over time from your substantial monthly income, with no additional borrowing necessary.Also, of course, don't take the appraiser's word for the rehab investment required, especially since he said that's only to get it to "fair" condition.

Enjoy that experience but know that...You will be influenced in a variety of life-changing directions by being in close proximity to others through some tough situations.

Their ability and interest in caring for the property may be influenced by the lower rent and their relationship to the previous owner. 

You will need 20-25% down and they will expect a track record and substantial reserves.

Cold calling/prospecting, contact EVERYONE in your personal circle/sphere of influence, volunteer to host open houses for agents in your company/office.2.

You should point out all the upgrades you've done.For example, things that need to be fixed, like a leaky roof, could show up as a property in poor condition if there is substantial damage evident.

Demand outpaces supply ...substantially.