All current tenants are $300-$600 UNDER market rents for the area, and the remodel will involve everything down to the studs, so its in our nest interest to get everyone out and under construction quickly.

Is your desire to make more an urgency to rebuild a retirement nest egg that's short, or could you afford to remain more conservative and still retire?

Pay it off as soon as possible while you investigate real estate investing and come to solid, reasoned decisions about your business plan going forward.Your miserly new home won't be comfortable, it won't be nice, if won't be your castle, your wife will not appreciate nesting in it, but you will have a roof over your head, and that roof will be paid off.

I want to create a nest egg for my family.

Don't  poke the hornets' nest. :) And make sure you are as considerate and lawful as you can be in your dealings with them.

After purchase, they will also have a nice nest egg built up (assuming they have some equity) to carry them for a bit until they get back on their feet with employment.  

@Ben Volkman its tough to provide advice as we dont know what your current nest egg looks like, but you may want to look at some of the short term investment options offered by online banks also read Tony Robbins "Money, Master the game" its a game changer if you listen to his advice

After a year this should result in a nice "nest egg" for the property.

Yes, if you buy a house and pay it off, it will be a nice nest egg.

The demand for multi-family homes is high, thanks (in part) to childless millennials and their empty nest parents.