We don't pay much store to cosigners but when we do get them, we run them through the full application process.

I'm fine with what I paid him for the work he's already completed, but would just like to hear from him that he's done with the job or what the situation is.

- What are the pros and cons to each of the above situations?

It is my belief your current situation is not a bad position (it is a goid position that will improve with time).  

It can be done but each situation is specific and would be underwritten to see the risk and what the exit strategy is. thats the key with shorter term loans - understanding what the borrowers exit is.

My spouse was the primary decision-maker, and I’m unsure whether to keep my share, sell, or hire a property manager.For those who’ve faced similar situations, what worked best for you?

When this is applied to frontage lot situations your development costs are minimal because subdivision approval is NOT required.  

Let's grab a coffee.These went on sale during black Friday and figured to share: https://www.amazon.com/stores/Arcade1Up/page/72239652-B330-4...

But, even if someone was I would imagine the financing terms you can get a mid level furniture store would be much better then a hard money loan anyway. 

@Andrew Syrios, I also like Texas in this situation.