It requires more work, so you need to determine your capacity in the end. 

This would be a data point I’d find useful to determine if I hold onto a 55+ property.

If you got the emotional and mental psychology to invest-- you'll be great.Now, financially.

Determine if you have the discipline to manage cash, or want to be a  landlord.  

If you use a GC to determine the cost, you should have them as a candidate for the rehab.  

Then there would be a hearing scheduled for them to substantiate their claim to determine whether a mechanics lien is needed.

First determine where the nails are actually coming from.

Cons: Added time and mental energyOption 6) Sell the entire portfolio and move cash to REIT index fund -- Pros: Eliminates all time requirement, Eliminates cash crunch, ~9% expected returns.

The current lender could appraise the smaller parcel and perhaps determine the collateral is sufficient.

It's an exciting step towards financial independence.To do so, determine your goals, assess your financial situation, and research the market.