Once you start adjusting your process to suit every seller, you end up losing money on terms you didn't want.

Ultimately - your accountant is best suited to answering this question.Your gain is sales price less adjusted basis where adjusted basis is purchase price + improvements - depreciation.You may have a gain on the sale, you may have a loss on the sale - only your accountant knows.If you have a gain(depends on how much) and you plan to continue being in real estate, you may want to consider doing a 1031 exchange.

We also owned our home free/clear and decided to go with a HELOC as it has more versatility and is well suited for how we utilize it. ie, a home equity loan gives you x amount of money and then you have to do something with it or stick it in the bank.

So maybe look for one that isn't re-done yet that you can get for cheap and remodel slowly over a couple years to better suit what you'd want it to be as a rental. 

The reason I chose that area because it suits my House Hack, as it will be in a close proximity from my full time job.

If I can, I'll give you a quick snapshot of where we are, locally, and what I see going forward.Here in the Tampa Bay area we have far more buyers than sellers at almost all price points short of true luxury (way above $1 million).Buyer activity is back to where it was this time last year, while houses listed is nowhere near matching the demand. 

Also segment out luxury listings.

I Always buy houses that can be converted into a secondary suit (duplex) as its what my business specializes in. 

This is an 8 unit, luxury apartment complex, right on the beach with incredible ocean views.

I just installed these in one of my properties at $1.89 per sqft, underlayment attached, and a lifetime residential warranty: https://www.homedepot.com/p/Home-Decorators-Collection-Coastal-Oak-7-5-in-L-x-47-6-in-W-Luxury-Vinyl-Plank-Flooring-24-74-sq-ft-case-03918/300253426