@John Hanewich building new is always a good option especially if you have the necessary licenses and can do some of the work keeping costs down.

And this leaves you with some interesting options because you can allocate your proceeds any way you want. 

I hurts a lot in my chest when I am shopped or left because I could not provide the best option.

Hey @Trevor Scheumann, The biggest thing to look for when visiting a new potential market is going to be to network with boots on the ground, namely property managers, highly recommended realtors and maybe a few contractors if they come from trusted sources.

If you can't qualify, DSCRs are a good option but I normally advise to stick with a 3-year prepay (or less, depending on pricing).

I had a tenant that wanted to renew a lease, but only for 6 months - which would have left us in the middle of January (in Michigan :) Apparently they may inherit a somewhat run down house, and wanted to keep their options open.

Deposits from the tenant.Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution lawfully doing business in this State or the landlord may, at his option, furnish a bond from an insurance company licensed to do business in North Carolina.

Secondary markets like Temple, Belton, Killeen, and College Station offer better options for cash flow currently.

It’s a bit scary looking at these options but I’ve started scoping out multifamily in the PNW.  

From your options, #1 is a big sink of cash and I can't tell how much that increases you rent. #2 is a no due to cash flow negative. #3 is the way to go.