I'd rather stay out of the way and let professionals do their thing.  

I’d be curious to know what part of town those properties are in.

I'd keep 70% as a base and shoot for 90%+ on the high end.I think I'd be pretty happy with 90%. 

Thought I’d update.  

I'd send out 500 at a time, using a different mailer/method weekly.

., unfortunately, to add to the frustration, Buildium's journal entries do not allow you to enter a vendor for the expense, you can only select which GL Account to debit and which payable to credit, so I'd still be stuck not able to track vendors for 1099's, see below.  

I’d love to connect with experienced landlords and investors who can share advice on getting started, selecting properties, and navigating the Section 8 process.

Clear communication on expectations is key—I'd definitely push them to split that $250 cost at the very least! 

I do want liquidity to invest elsewhere which is why I'd like the cash back from the reno ASAP, but I don't need liquidity equal to the value of the house--just the basement build-out, if possible.With option #3--how do you "cash out immediately"?

I’d probably still sell.