I am not an attorney (advise you talk with one) and this is what can be done in Illinois, Texas might be slightly different. 

We are primarily looking for properties around the Buffalo and Rochester areas, and eventually venture out of state and tap into different markets.

Hey, I have many different ideas for you:1.

I believe a PM and STR have different management fees as the job is more hands on and involved.

I am taking a loan of $280,000 but for some reason, the lender I am talking to is charging me about $6800 of lender fees in the closing costs quote that he provided, along with other overpriced charges that I have not received when I got a previous loan from a different lender in California.

I am researching all the different companies as well.

Hard to say.I suggest talking to your CPA about both choices as well as a loss on a "flip" (which this would be if you were to simply sell it at a loss) is going to be treated differently than putting a lot of capital into something you hold as a rental.

The original underwriter of the loan had actually told me it was possibly worth it to refi after a year and pay the PPP because of there being 50K instant equity in the house- which if I am not mistaken, is the difference between the purchase price and the actual appraisal value?

Sale Price compared to List Price has quickly regulated up to no noticeable difference between what a property is listed for and eventually selling for on average.

Despite facing personal challenges, like many, I've learned to navigate differences in my community, emphasizing mutual respect and understanding.