This is also a great way to test out the STR model in your area rather than going all in on a SFH. 

So far, no big changes for me.....sure prices of materials and supplies are creeping up, but I raised the rates of our STRs to more than compensate for that.

@Dom Zebrowski, as well as the issues raised by @Evan Polaski, I query whether for an Investment Loan you'd get as good a deal as 3.5%/y Interest over 30 years. 

Once your in it you can do some rehab work, raise rents and refi into a conventional mortgage so you can drop your PMI and still have very low housing expenses while building equity and keeping things moving.

After this I would ID a few markets close by - 1 hour by driving - and run a few numbers. test the market using your metrics for your goals and if they do not work move to another market.

I am trying to determine what my property would be worth if I raise rents and do some value adds.

Assuming you want to raise outside capital, you just need to convince investors that it is a good idea to invest with you, and if you don't have a lender, then no lender requirements would come into affect anyways.

Raising interest rates will cool the housing market.

I put 10% down, RAISED my interest rate as high as possible so that I could get a lender credit (no closing costs), then fixed up and refinanced, so the higher interest rate was short lived. 

It was his family home where he raised his sons.