Wondering what, if anything, I could do to spruce up the place to make it more attractive to a potential tenant OR if there are ideas of what I could personally do to it that would create some nice cash flow for me (co-working spaces, etc.).

And the tools of the trade are always provided by the contractor, not his client.If your contract does not include some timeline for completion and/or milestones, I'd add it into future ones.

Before diving into BRRRR, try house hacking first, look into out-of-state markets, and use the profits from your initial property to fund future investments.

If you were starting a new STR or MTR, what are some things you can do to cut down on future maintenance?

DSCR Loans are going to be standalone 1st liens too (in addition to can't be used on a primary) - you should look into a HELOC or closed end second potentially

What is the potential scenario looking like ? 

The assessment process for commercial properties often involves evaluating the property's income-generating potential, which can lead to higher taxes than residential properties.

@Shiloh LundahlTheoretically assuming properties were identical in every sense yes because I don’t need cash flow and would rather have the extra $100k in equity.Now $600/mo could get you another $100k mortgage to get you another property that could potentially also cash flow but for me personally I am in equity play mode now income mode - just my personal choice but nothing wrong with the other scenario

This allows for future use by you or a contractor that needs high power tools or who knows what.

Currently, with your layoff situation, you have the opportunity to concentrate on market analysis, studying trends, rental needs, property values, and potential value growth.