We are planning on qualifying for a refinance early next year for these two reasons: and please correct me if I am wrong1.

So it seems reasonable to find another PM company that can rent the property out.

I have good credit and good income, and I use hard money for 2 reasons.

The reason i ask is the most under-valuated risk is typically repairs. 

That is the goal/reasoning I suppose.

The prices for these dilapidated buildings can be very reasonable and if they have been out of commission for a while, some sellers are willing to accept creative financing options.I started my journey of searching for old motels in Michigan about a year ago, only focusing on it on my spare time while I work on my e-commerce businesses.

Rest looks reasonable.

Without knowing the specific location, I'd say C class is a reasonable classification. 

If you find that your MAO is actually above the asking price, ask the asking price (unless of course you have a reason to believe that the seller would take less).

The reason I suggest that for you is that it would allow you to get into a deal for very low money down...you could even use a VA loan for nothing down and have a huge reserve.