Given those numbers, assuming they spend an extra $50K on rehab to hit $250K ARV, that's about $15K of extra profit in their pocket for a lot of work and risk. 

If they have cash reserves then I am sure they would be interested in the chance to earn a return way higher than what they are currently getting (assuming it's sat in a checking account or something similar).  

May require paying a tiny bit more and having all of your personal and rental policies with the same company, but honestly not having the extra complexity is nice.

I talk a lot about opportunity cost and long term outlook here in the forums, so let's compare the two strategies over the next 20-30-years:You could stay in your interest only loan and enjoy better cash flow, to the tune of an extra $450/mo in your pocket.

Agree with @Michael Hacker, the extra weight might be your biggest concern. 

The more time you spend learning the more time you'll spend earning.

Typically, no extra cost, if there is town pick up.

I absolutely thought about somehow getting the money to buy my brother out because we were earning almost 3000 a month and the mortgage including escrow was only about 800 a month (and i have people for repairs so they aren’t too expensive), but the woman who was in charge of the duplex (living trust) while we were too young didn’t pay taxes and let the account accrue an escrow shortage and we started having to pay over 1800 a month just to catch up.

What skill do you have that can be a fall back to earn you income ?

It takes 45 days or more to close with a 203(k) due to all the red tape and contractors and our seller kept threatening to back out of the deal and demanding extra money every time it delayed but we eventually did close and it was worth it.