The Columbia market -- specifically West Cola, Cayce, North Main, toward Camden, etc. -- appears to have some properties that would cash flow well, but may be limited on long-term appreciation.I'm looking to stick to market-rate properties.  

I think the best thing would be to knock out the line of credit mainly because I’ve been putting a lot of time into getting my business up and running, BUT if I could knock out the renovating before March that would be a HUGE win.

My ARVs are also reflective of those factors. 

And lastly how about the extra squatters that do have income and are paying the main squatters $$$ for subletting.We need to put up a fight and “DEMAND” what’s owed in backed rents and if the squatters don’t comply than see the them in court with an UD along with including All the John and Jane Dows that are squatting with the main squatters and most likely hit them with a JUDGMENT with a DING on the main squatters credit including his wife’s credit along with wage garnishments.

what factors should I be looking at when making this decision.  

You did not mention how far they are from you which is also a factor.

I have personally stayed in one of these places where the main house is separated, and only the basement space which has a walkout entrance, its own kitchen, and two bathrooms would be rented out an Airbnb.

It could certainly be a concern - but depends on a lot of factors - are you looking multi or SFR? 

I invest locally and invest out of state, and the main issue for most is the shiny diamond syndrome providing you the reasons why investing (insert area here) is the best place. 

OJs main asset shield was his primary residence in Florida, which has unlimited homestead protection.