I need to better understand all impacts each option has for a smaller operation.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

We have funding options and could also run the project with our resources that we have in my area of Florida. 

If funding is an issue, you do have some options.

You’ll want to check with local credit unions or smaller banks since they often have more flexible HELOC options.

Based on the fact that new construction is currently at a relatively low premium when compared to existing construction, I think this strategy might be a good option.

There are better options that don't have minimums.

Quote from @William Weston: That would be an option but I have not seen multiple family homes that are big enough for a family of 5.

The last tip, I would also see about the first option above I mentioned and add in staging if you do not have it. 

We spend zero time comparing against other options.