Please feel free to reach me out. 

I wonder if any BP-er out there is investing in Des Moines, IA.

I'm not sure how I can be of service, but I'm always happy to help out.

some good examples here already but would add minimum loan size / property value I see a lot, unfortunately have to turn away a lot of people (esp. those just starting out) because their budget is too low and the property doesn't have enough value juice to make it worth it as a lender (plus more risky)

Conventional guidelines will ask you to have owned the home for 12 months before you can do a cash out refinance.

I ask because it seems like you have two clear choices - Either finish the rehab and sell potentially at a loss, or hold the property while renting it out so you can hopefully benefit from gradual appreciation and using the rent to help make any principle paydowns on any loans you may have. 

Figuring out your ARV is the most important thing you can learn so great questions. 

When they moved out, I was surprised how much work I had to do.

This would be our first rental and we would be living out of state.

I recommend you reach out to @Andrew Postell.