Just asking as most folks seem to think "giving it back to the lender" is always an option.

Either would be a great option; I'd probably choose Roseville because it's more established, but the City of Elk Grove deserves a lot of credit for its impactful growth programs, so it wouldn't be a bad option. 

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

Another option is to invest in the market instead of paying down a mortgage.

Rank them from worst to best in capital expenditures expected*optional, not always necessaryAdd those numbers together for each property.

Or perhaps I am not considering other options, so I am seeking help from this wonderful community.

This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

It's not worth my time to deal with the hassle of conventional loan anymore, so I don't even consider it as an option.

I would think selling would be the best option so you can move on from the property and then invest elsewhere (not in an IRA thereafter). 

We would only go that route if it was the best option.