AC's will generally not raise the ambient temp by more than 20 or so degrees.

Many investors buy property with traditional debt, fix it up, raise rents, and do not refinance it. 

If this Property could cash flow well with being ALL CASH up front, then at this point you may be able to raise private money from friends or family (NOT hard money) or bring in an equity capital partner to execute the deal.

So here we are with the Fed continuing to raise rates to destroy "demand" (yes to create job losses) and if they stay the course, we could see rents decrease as fewer people are able to afford the rent, which would increase supply.

Raise the value, early and often and become well paid for it. 

Continue to look for partners to work on locking in a profitable STR deal or learn more about propetry managment to raise funds before going into investing?

You can do a 6 or 9 month lease to then raise rents when demand is back up. 

If you raise the death benefit, you will increase the internal costs and the ratio will decrease. 

Especially since doing so could be seen as discriminatory by the state, as others have observed.If this applicant meets your rental criteria, but you are still not comfortable with the application, then I would suggest raising the bar on your rental criteria. 

Mason is right I have done the exact same thing and was able to raise section 8 rents on 2 units from 850 and 950 to 1075 on both with a phone call to the local housing authority office and with minimal increase to the tenant's portion of rent