I think this could increase our cash flow to ~$1,400-$1,600 a month.What would you recommend?

This would be $291 per month. 

Hope this helps.

This home is appraised at $250,000.

This was sudden and no previous communication on listings that have hit their site previously.

@Jason Frink, here is a link that briefly discusses it.

Sticking to the lease in this case will only cause you more problems, not less. 

Is this something that I should pay for?

Im not personally a short term rental Investor but these are some of the benefits that may support your pursuit of scaling more rapidly Yes this is true about the STR which is a good option 

Hey Jason thanks for the tip.