Obviously the numbers and location would determine which is the best option for me but these would be my preferred methods. 

But did create issues of determination of value when distributing the assets of the LLC because all properties are probably not exactly equal in value or equal to a members % interest.But either of these can be made to work for you in the situation you describe.

The Board intends to reassess this decision to determine whether to recommence the redemption program or to continue to pause the redemption program no later than July 1, 2024."  

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

So, comps can help with figuring out local cap rates, then you need the income from the property to determine a value.

The big thing that determines the price is what actually has to be done and the finishes that you select.I know you said it is a gut remodel but are the floors still good? 

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…

Most hard money Lenders can't give you final approval without the property because they do an analysis to determine what their risk is. 

It may be out of state, so you will have to determine if that is something you are willing to explore.It isn't always cut and dry as some suggest. 

@Aaron Zimmerman Good point about structure set up and determining cost bases.