That sounds like a much more resonable refinance rate and would definitely increase my return (~64%)4.)

A distressed property will need a "value add" to increase the value, a distressed seller can sell allowing you to profit without touching the property, but this has limitations as well as to giving a fair price and not screwing a seller.

I realize that everyone is going to have different input and advice based off of their experiences, but I'm looking for assistance as to whether something I'm including is a definite NO NO, or if something should be added in for increased impact. 

On a car lease is there a standard or accepted amount of the lease that can be applied to the business.

So if the property has increased in value then you may be triggering capital gains.  

My wife and I started our company about 4 years ago and have slowly been building it up and increasing our holdings.

Many are increasingly using AirBNB's nascent corporate program as a way to outsource the management.

This is my standard message for Newbie's to RE investing and members of BP. 

All buildings on the property have to meet FHA standards to get a normal FHA loan, so you'd have to do a 203k,

If it doesn't then there is room to bill back water and increase market rent leaving decent upside.