I have a 5 bed/3.5 bath brick home in Madison, AL. 4100 sqft on a VA loan at 6% with a remaining balance of $404,000 roughly; 28.5 years left.

I just completed an eviction in the South Bronx, and it was rough lol

I recommend starting with some BP podcasts and starting to figure out what your skills, interest and capital align with.

I make roughly 150k annually but have 200k total in student debt from graduate school.

This figure includes allowances for heat, electric and any other utility that the tenat is required to pay and this is deducted from the FMR. 

Their figures are labeled as "Fair Market Rent" and are the MEDIAN rent foir the area, which means it is the middle rent with 50% above that rent figure and 50% below that rent figure. 

I do 30% traditional (roughly split 50/50 stocks and bonds), 30% owned real estate and 30% non traditional (loans, syndications, PPM funds etc).

There is roughly $275k left on the mortgage and its value is est $430k.We have a brokerage account w $300k that considered as discretionary investments because we also have 401k contributions and emergency savings.Our options we're reviewing:1) Do nothing.

It's mostly Class A properties, a few Class B.You may find the below copy & paste info useful in addressing your question:----------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Yes, I was able to figure it out.