She is essentially implying that these 1% rule properties have something very wrong with them or don't exist. 

Create rooms within existing square footage, look into ADU properties, etc. 

Builders can give you some sense of cost and project scope and local officials can let you know if any grants exist for affordable housing, re-zoning efforts, etc.

Studies typically cost $3,000–$5,000 but affordable DIY options (around $400–$500) exist for simpler properties.

While rates for the new loan will be higher, keeping your existing loan intact on the remaining balance preserves that low-cost debt.Use the equity to purchase properties in higher cash-flow markets while retaining ownership of your Bend property.1031 Exchange:If you do sell, a 1031 exchange allows you to defer capital gains taxes by reinvesting the proceeds into like-kind properties.

At the moment I have only been looking at SF and 2-4 MF I would not mind either just making the numbers work is hard. 2-4 MF are hard to find in the Las Cruces market right now but they exist.

Unit 2 - long-term rental (this will usually be with an existing tenant since you already have that running well or in a larger unit that might net the highest rent as a long-term)3.

I don't plan on adding anymore and just putting my capital into my existing STR's. 

This is not “student housing” in the traditional sense - even the vacancy risk doesn’t exist as it’s a 12 month lease / they work over the summer there, etc.  

In this market i would only go that route if you have the resources to cover their initial investment so there would be no loss of capital if things go bad.One of the syndications that i am an LP buys MF, rehabs the existing units, converts tbe garages into max number of studios, brings all units to top of market rent, and exits with max NOI.