While margins may be equal or higher on cheaper deals, you need to do more of them to yield the same cash output versus one successful larger deal.  

While the interest rate might be higher, you eliminate the risk of needing to refinance or sell later, making it a safer option if your goal is to hold the property long-term without any financial uncertainty.If maximizing cash flow now is a priority and you're comfortable managing the future refinancing risk, owner financing with a balloon could be the better choice.

Prefer to have a purpose and develop, for larger gains.For now, starting to clean up. 

Open layouts are highly desirable because they improve the flow of the home and make it feel larger and more modern.

These lenders are often more adaptable than larger institutions.2.

Single Fam offers more purchase options and easier to exit with a larger buyer pool.

Obeying rules because you think you should is not the same as making moral choices.

I understand at this point there will be a loss I will have to incur, but I am looking for thoughts on if I should rent (knowing I’ll have around $5k a year to loose with renting and property taxes , but giving myself time/ hope of appreciation) or if I should just sell (locking in a larger loss on the property now).

For appreciation, the Columbus market is a strong choice.

There are clear affluent areas and forgotten areas of Janesville, but I will always stand by my opinion of tenant screening being the best defense of your rental property value.The Northeast side is, by popular opinion, one of the best areas to be in for newer duplexes and larger lots (for more money, of course) - take a drive down the side streets off of Wright to get an idea.The homes here are at a premium price, and rents are higher, but we've found the ROI is too low to start out in that area.