Looks decent.Some things to consider:Holding Costs - you will be paying your HML interest only payments for however long it takes you to renovateA Full Gut for 60K seems too good to be trueRemember your ARV / Refinance interest rate are moving targets.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

I use eforms.com for all my contracts and smart move for all my background checks.

And when the house was exactly like we wanted it to be, we moved out.

I moved to Ohio and now work as an agent and a new investor in the Cleveland market.Single families are in the 90-120k price range, and duplexes are in the 120-180k price range.Many out-of-state investors have grown their portfolios in Cleveland using the BRRR strategy.

I lived in Houston for a dozen years (moved last summer) and really wanted to make an STR work, but I just couldn't get there.

It's one of the hottest markets in the US right now with so much population growth, job growth, and companies moving/developing here (26B Intel headquarters being built here, 68K+ enrollment in Ohio State University, Amazon, FB, Google, Honda, Nationwide, Anduril, etc.).

I was to start assembling a team together and am looking for any recommendations of contractors that will offer a little bit more hand-holding, as I am still fairly new to this process. 

Which market do you have experience in and how is your experience working remotely with your real estate team in the area?  

I'd also start the marketing process 30-45 days before current tenants move out in most cases - it just seems easier to re-let a place that is currenlty occupied than one that's been sitting empty for a while for some reason.