Having said all that, if the area is large enough, the fence is in good shape, the owners seem responsible and your covered by insurance it could be a good opportunity to get a good long term tenant. 

You may need to show that you have completed at least 1 fix and flip or hold to get the full cash out, otherwise it may just be a hold back for the renovations and a rate and term refinance for your 1st mortgage 

Ideally, I'd like to run a strictly mid-term rental operation, though I'm open to short-term if it make sense given the regulations here.

When you pull out the 75% value (which in your example is $150k) and use that to pay off your initial $100k investment and $50k renovation costs, you’re breaking even in terms of cash.

His approach was straight to the point in terms of making sure we were on the same page business wise considering everything going on currently, but overall was a very informative & positive call...I’m really looking forward to getting started.

It's highly likely the people that came out were simple tree cutting services, not educated arborists (who gets 3 estimates in an emergency?)

I am always open to potential deals or partners who want to get into small multifamily development with a long-term goal of commercial investing. 

Whether it says Passive LP, creative financing, fix and flipping, notes, Short Term Rentals, seller financing  etc - I am at the bottom - I can scream no but I far too often hear stories of people quitting their job to pursue real estate and then end up very unsuccessful. 

Have you made some progress in terms of getting some deals?

Do people put exercise equipment like treadmill or stationary bike in their mid term rentals?