@Christopher Mooney NOI is Gross Receipts - Expenses...including Property Taxes/Interest/Insurance, etc.Income tax is based on the NOI less depreciation.

there are more than a few of us who have had this happen to us here on BP.. myself included.

When considering the purchase of a property with existing fire damage, there are several important factors and protocols to keep in mind:Assessing the Damage: Conduct a thorough assessment of the fire damage, ideally with the help of professionals, to understand the extent and impact on the structure and systems of the propertyRepair Protocols: Follow local building codes and regulations for fire damage repair.

p16  "Salzano used this money, much of which was traceable to Fund investors, for an array of lavish personal expenses, including erectile dysfunction medications, expensive dinners, extravagant birthday parties, and payments to Individual-4 (Salzano’s wife), Individual-5 (with whom Salzano had a romantic relationship), and Individual-7 (Salzano’s ex-wife), none of whom worked at NRIA in any capacity."

I do think it's important, but only when you have a lot of potential leads coming in.

Industry still looks at STR as a bit riskier than LTR cause there's no lease.Lots of investors use bridge loans which are short term loan programs that include funding toward the acquisition plus funding toward the rehab. 

And again, this is still not including any capex/repairs.  

Any advice would be much appreciated That's where you just have to make a decision on what's more important to you, maintaining the low rate or accessing the capital that's in the house.

75% of ARV is the max you want to go when you include all your costs. 

If the buyers buy the right property, the cash flow should be more than enough to cover all the costs, including that of the financing.