Mortgage with taxes and insurance would be around $1350/month.

Cash-out refinance: this is a little painful with current interest rates3.

There's a website called Furnished Finder that traveling nurses use a lot, it is also for anyone looking to relocate or who needs an interim solution.

My guide is asking this question..."

Have any of you worked on a project similar to this?

Does this seem reasonable ideally I could insure it for value vs rebuild cost?

So this method works in this high interest rate environment. 

Example with zipcode 11203:  https://www.zillow.com/rental-manager/market-trends/11203/Then if the market temperature on this page says warm or hot, I'll look up a house I might want to buy in that zipcode.

Any insight from wholesalers or investors in this area would be much appreciated.

For context I know this may land squarely in STR territory meaning as a residence it won't comp out any differently.