Selling the property has also crossed my mind, but I'm mindful of the tenant's situation.I plan to raise the rent again by 15% in May when the lease renews, but I'm unsure if that's the best course of action.So here's my dilemma:1. 

I love the story of your artist friend, honestly it never came to mind to incorporate the two together for a marketing hook!

Simpson and Spax come to mind.

Just be mindful to keep relationships with your tenants strong.I’m curious... if you had to pick just one route right now..sell, refinance, or optimize..where do you think you’d lean, and why?

As you indicated, make sure you leave something in the plan for contingencies (absolute minimum of 10%), and keep in mind the cost to hold during the time it's under construction and being marketed.Make a plan, check it twice, and decide if it's worth the effort. 

Keep in mind that someone has to change the trash bags each turnover. 

In my mind I tabled the manner as we had more pressing things to tend do and I needed everyone to be in work mode.To make the matter worse upon my arrival he had done no work, just small demolition he charged me over 1000 to do, and it wasnt even 100% complete by the time I got there. 

Nathan keep in mind not everyone is a landlord most litigation in RE is between partners and investors suing GPs etc etc. 

Keep in mind, I do my homework extensively on the properties I am trying to buy at auction.

So we just did the best we could with what was available and it turns out the guests don't mind at all.