You can get solid yearly rents in these areas, but not sure how strong the vacation rental model would work in these areas since they aren't technically close to coastal which is the area that commands stronger rents.

Other than that, it's all about which one commands a higher return on my investment, not necessarily the most rent.

If you call the law enforcement agency and ask for a watch commander you could possibly get a little more information to help you understand what happened and why.

.) - Could command $1500 p/m lease, possible more as AirBnB.While this third option doesn't give any cashflow, it does allow me to get into a very desirable property at a discounted rate.

That is possible although note that China managed to get the spread under control  But then they can build hospitals in 10 days and march in 25000 doctors on command. 

What would it command in rent?

It seems to me that MFRs are already in high demand for investors and are commanding crazy prices.  

They can be rented but my 3/1 are slower to rent and do not command as much rents.

As mentioned above, Portsmouth is outrageous, but commands a very high rental market.

Katy, Cypress, Spring, some parts of Houston, Conroe, Tomball, Pearland are great markets.These cities tend to command quality tenants, and they have great schools.Good Luck!