After collecting tenant pass-throughs for the year, do you pay the property taxes at the end of the year or the beginning of the next year?

She refuses to pay rent and says she cant be out until April.

The equity is actually what you are paying for the property.In this case let's look at the numbers that count,...the current numbers.You have about $500k or more in equity, which is buying you a property that's worth about $700k (I went with the lower PV. 

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

A lot of research and studies have come out around high paying jobs make large impacts. 

.: @Colleen A LevittYou can always pay off or refinance the loan.

You pay for the basement reno out of pocket and cash out immediately...instead of waiting for 6-12 months

Why would you do anything that effectively pays you less than that?

My SBLOC requires that I pay it down to $0 once a year and keep it at $0 for one whole month.

As mentioned before, you can get away with paying for the draw money, but not using it.