But the shopping centers, most all of them have defaulted on their loans in our area. 

Just bought the gear we need to go another 10 feet to trim limbs.  

Here are the pros as i see it: easy (no purchase necessary, you know the property), likely prop 13 property tax discount, possibly below current rate loan.  

We currently own 13 rental properties and have paid off all loans/mortgages including our primary residence. 

You should speak with a CPA and a tax attorney to be safe.Regarding your thoughts about 1/3 equal splits - sounds good until you check out the cost of getting a DSR rehab loan or borrowing hard money.

Focus on the big-ticket items and estimate costs.Financing: Whether it's private money, hard money loans, or a traditional lender, make sure your financing is lined up.

Bankers will be asking for proof of this filing as you get loans in the future.https://fincen.gov/boi  

Little cabins have very little value.Maybe try for a commercial loan as a business?

Single woman, mid 30s, small dog, 50k in student loans, decent savings, 735 credit 2.

Also there is no restriction on acquiring conventional loan on primary residence even if you have maxed out on conventional loan for rentals.