Seems like too much work for too little return UNLESS you own the property, or perhaps have an option to purchase the property allowing you to capture any increase in value.   

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

The house will need a new fence soon, so I'll have to factor that into the scenario.I'm not sure which choice is the best option for me.

Due to the creativity of the deal conventional funding is not an option.

If your cabinets are made out of plywood and nice enough painting is actually a great option. 

@Rene Hosman Did some research on these options and found some unfortunate news.

With fluctuating interest rates, tighter lending criteria, and increased competition for properties, securing the right financing has become a key factor in closing deals and maximizing ROI.Are you exploring creative options like BRRRR, partnerships, or seller financing?

For this reason, I would take inventory of the local banks within your target markets that offer financing options that best serve your real estate needs (again, usually the smaller local banks), and build depository relationships with them.

Talk to house hackers because that would be a great way to start, but you are also advanced with money so you may find smarter options that act more like index funds (syndications).Yes I was actually looking at syndications that was going to be my next research topic that seems extremely interesting and powerful syndication seems like an awesome way to diversify without getting my hands dirty necessarily.

I would strongly advice consulting with an attorney or financial planner to discuss your options.