Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.

I am willing to sit back and allow this to play out and evaluate the facts.

Feel free to DM me.- Victor Collazo

I would get a slab/foundation company out there to take a look at the property and see what the quote is to repair it.

He’s built an incredible network of people who each play different roles to streamline the deal process.

@Jessica Privitera welcome to the forumns, sounds like you will have a lot of value to add here and help others along their own journey.What was the driver behind the move from NY to TN?

The main questions to yourself are: How much time do I want to dedicate to this? 

As @Ke Nan Wang said you have to hire an architect to make these decisions for you.On my projects I will compile like 5-10 inspiration photos based on projects I've done in the past, comps, and photos I find online, then I'll present those to the draftsman/architect.

You’re right to explore other options!

Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources.