While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.

I'm a passive investor and these properties are in a different state than I reside in so I'm not there in person often. 

.), maybe showing how much equity could be pulled out of which property when, whether the portfolio would still cash flow, etc.

Lastly, in this example, if you are only able to collect rents but have no equity on the property - that is worse for the investor than owning the property.

I had planned on buying a new primary residence  that needs a rehab that i can get way under market value.

I don't know your living situation but if your paying x,xxx for rent or a mortgage and instead by living in one side and renting out the other you will be paying y,yyy instead and y is less then x that's great, especially if you can rent out your primary residence and make income there too. 

From what I can tell, the extra equity on the house could be utilized to provide better ROI.  

land sale is in Northern PA, but we are currently NY residents. 

My focus is shifting from cash flow to equity management as well as our portfolio mix.

We approach each eviction the same way and have our playbook every time a resident gets behind on rent.