This home has been highly operational with high rates of occupancy, bringing in anywhere from $500-$1500 a month in overage beyond our monthly expenses.

Conventional financing is a great place to start as the interest rates will be lower. 

•Look at Rental Absorption Rates:•How many homes like yours were leased in the last 3-6 months?

I've seen many poor investments made with single digit cap rates and even negative cash flows in hopes of getting great appreciation. 

Are there any ways to use the equity that don't have brutal rates?

maybe they would do a subject to and have you take over their mortgage payments - do they have a good interest rate? 

Don't look for lowest rate, look for lowest cost on fees as you will either refinance out of that loan or sell- the prepay will hit you on the back of the head like a cinderblock wall.

3️⃣ Too-Good-to-Be-True Terms – 100% financing, super low rates, no credit check… is this ever real?

Later you can transition it into a full time investment rental down the road by doing a refinance and lowering the rate at the same time.There are renovation loans out there that also allow you to borrower over a 8-10 year term to cover the renovations and again refinance to consolidate the reno loan when the ARV increases.

At the end of 2023 I purchased an old 4plex out of state (MD) for $180k (it appraised for this amount), 20% down with 7.99% rate, mortgage is $1364 with piti.