Using this tax free bucket, you can borrow against it at very low rates to pay off your student loans.  

I would say, you may be able to get lower rates than mid 8s as my lenders are high 7s for a similar scenario but you may be tripping over dimes to save nickels. 

At current rates it’s hard to buy something that cash flows but you may be able to get something in a well sought after market or area that will possibly have some future upside. 

Most work this way: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

We can request a discount on the listing fee and it will be most likely 1-3% and you will still need to pay the buyers agent fee.

Depending on your buy box and location, right now is a hard time to find deals with current interest rates (at least in my area), but if you run the numbers regularly, you'll be ready when the right opportunity comes up. 

Look at cap rate and look at comps in the area.

The once caveat is that because of the demand pricing in PriceLabs (a surge pricing date) would result in a nightly rate greater than your minimum rate and thus less of a discount then budget.

Since we are out of state, we need someone to observe the minor renovation progress.What would be the average daily rate for hiring a renovation project manager to check on the progress and ensure that contractors are doing their job properly?

My parents live in Prescott, Arizona and it seems to be an area that has continued to boom, has low vacancy rates, and a bit of a shortage of rentals.