Too high of a cleaning fee turns some people off, but you have 5 bedrooms and guests have to pay to clean all that one way or the other, despite your low daily rate.

It seemed like a no-brainer when we could utilize a second home loan for a low down-payment and get higher cash flow than other investment types too.

Depends on your current interest rate and how sensitive you are to an increase.You also haven't told us anything about your loan and equity of your primary.Typically, you will get better rates on your primary.You can either do HELOC or cashout refinance.A construction loan is not recommended as they are more expensive and best for low equity situations.

Out of some neighborhoods and in to others. 

Price was $229K with a $160 HOA and low taxes.

Some of them will be giving you a great return and some of them the RoE is low. 

We stood out in a low inventory situation and captured the attention of the best buyers.The most important part is the condition of the home and how you present it to the market.

It's there if you get too low on cash, but I'd recommend using your own savings over borrowed funds.

There is a book on the site that goes over rehab estimates and costs but a good idea, this is something I did starting out, is to go down to the local Home Depot/Lowes and start pricing out the cheapest and most expensive "off the shelf" items.

I promise you that this tenant is not the only person in the neighborhood with "toxic traps" either.Sorry to hear about your cat but at this point in time, you are taking your frustrations out on somebody who may not even be responsible.