Prioritizing projects as first-timer?

[Dom Nico]

Hi, all! I have 3 potential projects that I've been researching and planning to get underway within the next 6-12 months:

A) Renovation of historical single-family home. Current value ~$80k (still has mortgage of $40k). Remodel cost $75-125k. "Total" remodel has been quoted at $200k+ but I don't want to price it out of its neighborhood, where the nicest homes with 1-2 more beds and 2-3 more baths top out around $270k. Gentrifying neighborhood half-mile beyond CBD, attracting young families and seniors. Projected rental income at completion $2k/month.

B) New construction on vacant lot. Duplex, or potentially up to 4-plex. Or, option to split into 2 separate, adjacent duplex projects. Minimum ~$110k/per unit to build. Realistically $250k+ for duplex to $485k+ for 4-plex. Gentrifying neighborhood 2 blocks beyond CBD, attracting students, young professionals, singles and couples. Projected rent, $1250-1500/month per unit. Alternatively, build 1-2 new single-family homes and rent for $1250-1600/month.

C) New construction on vacant lot. Duplex, or potentially up to 4-plex. Same costs as B. Suburban neighborhood in transition, attracting families and seniors; excellent location for daily commuters (by private auto). Rent may be slightly less than B, $1100-1400/month per unit, but better potential for 3-4 bedroom units (at greater cost). Alternatively, build 1 new single-family home and rent for $1100-1500/month.

I already own all 3 of these properties and have been gathering ideas and costs from contractors, builders, and lenders (and investors here), and have discussed options with city planners. The goal for now is to keep all and rent them out upon completion. All 3 should be profitable in year one, but none are likely to be significant money-makers until they're paid off. 

I'd like input and opinions from anyone about prioritizing the projects, as a first-time investor/landlord. Starting capital will be limited, but I can scale back the first project if needed, which would make borrowing for any of the 3 within reach to tackle first.

Any recommendations? Which would be the first you'd take on, either now or if you were just starting out? Thanks for any insight!