While all of those are necessary to think about, none of these matter more than figuring out what goal you are trying to achieve.From your post, it appears that this is your former primary residence. 

If it’s not too much money, though, it might be easier to just fix the issues and move on to your next deal.

I would be interested to see your numbers over the next 6 to 12 months for OKC as it appears we are seeing a drop in rental rates overall in the market based on my data. 

Depreciation also is a huge benefit that you can keep going as long as you are investing in real estate.There's always ways to make your life easier without paying those pesky taxes.

Similar to setting up a Solo 401k many are unaware of the laws and regs and don't want to touch anything unfamiliar and so it is always easier to say "we don't, can't do that.

No dust was found so it appears like this might be from past and not current.

The first one can be overwhelming but it gets easier from there. 

     @Bob Gruenig, what @Chris Tracy may be trying to point out is that if you are creating a LLC and bringing in other passive investors into that LLC, your LLC may be subject to securities law.The easier option would be to let each individual come into the syndication's LLC directly. 

Here are some factors to consider:SFH: Easier management, typically lower upfront costs, and the potential for strong appreciation in Orange County.Multi-Unit Property: Greater potential for rental income from multiple units, but it may require more active management.

They both have their good and bad aspects… but rentals are far easier day in and day out.