And this leaves you with some interesting options because you can allocate your proceeds any way you want. 

From your options, #1 is a big sink of cash and I can't tell how much that increases you rent. #2 is a no due to cash flow negative. #3 is the way to go.

Looking for guidance on options. new builds aren't hard to finance and I would argue they are preferred to existing fix and flip loans, especially if you have experience. banks look at your experience, your builder's experience, loan structure, permits, etc you need to get an experienced builder familiar with advanced underwriting and negotiations with local, regional, and national lenders. in columbus we do ground up construction for clients at a 20% discount so they can BRRRR out of the new build with equity and we have pages and pages of data on what we build and why and it's all supported by market statistics. 

I had a tenant that wanted to renew a lease, but only for 6 months - which would have left us in the middle of January (in Michigan :) Apparently they may inherit a somewhat run down house, and wanted to keep their options open.

On the other hand, owning rental properties gives you full control and the best tax perks but also requires the most work and risk management.Whichever option you lean toward, always diversify across deals and sponsors, and don’t hesitate to ask for references or do background checks.

Also there is a special tax abatement for office conversions but requires the developer to retain 15% as commercial use.So we have the option to stack them and consolidate.

They do have a la carte coaching options, but the price is not listed.

Just make sure everything aligns with your overall vision and budget.For your second question, if you can't be in El Paso every week, you have a few options.

It’s a bit scary looking at these options but I’ve started scoping out multifamily in the PNW.  

Feel free to reach out if you need help with financing options or advice!