Their book value is low, but their value as a rental is high.

Seems a bit high. 

Anything more will be high in fees

In this game, the mechanics and algorithms are already put in place for simulated property values that fluctuate based on population, proximity to pollution, proximity to commercial, hospitals, fire, police, water, and etc. 

I know California is not so investor friendly due to high taxes and non landlord friendly regulation.Florida has high insurance costs in some areas?!

My goal here was to replace all major components and renovate to a premium level finish in order to charge market rent.By installing high quality finishes, I am setting this property up to be a low maintenance long term hold 📈What kind of renovation costs are you currently spending on your properties?

I see that choice as high risk.  

So lots of experience both good and bad.from my point of view seller carry back IE seller owns the property free and clear and wish's to owner finance.. this can be pretty safe in some states high risk in others.. whats the difference the difference is foreclosure time lines.

The appreciation for the property is definitely going to be long term and not short term, so selling now isn’t ideal.The property manager agreed to market it as a medium term rental, so we’ll try that, but it's new to both of us, and it seems like it would have to rent at $3700 to be profitable; does that seem too high to the folks here?  

The STR has high-traffic, people in and out every week, and the MTR doesn't have that high traffic but its about 180 miles away and I don't want any  issues when it sits empty for a week or two.