The goal here is to have a lease signed, put a renter in there, and cash out refinance the property to pay back the private lender and most of my own money... a BRRR if you will, but in a roundabout way. 

One of those homes sold, one was a FSBO, yet it was a renter that bought the home from their landlord after 5 years of on-time payments.

My main questions would  be, how long until I would find a renter/s?

Any chance this was a “turnkey” property with an overpaying renter to sell you on the property or did your pm find this renter after you owned it?

The BRRRR method lets you accelerate faster but there is nothing wrong with starting with a move-in ready deal that you can put a renter in. 

The house is technically livable, but as is, it needs a TON of work to get market rate renters or to sell it.

We found a renter to offset our monthly mortgage payment by $1,300/month.

Start marketing for a new renter.

Renters are paying the bills plus your ROI.

These types of renters, make a large downpayment, rent the home, while fixing their credit, then purchase it later.