With the limited info, I would say #1 is your smartest option but there are a lot of variables missing.

Auto limits of 250/500/250 and Homeowners liability of 500K should be the minimum you carry.

It was in rough condition, which limited competition and made it a strong candidate for the BRRRR method.Negotiation: After analyzing comps and repair costs, I negotiated a $420,000 purchase price, which was below the market value for similar properties in the area.

Our goal is to scale quickly and acquire as many properties as possible, with no upper limit on our ambitions.

it may be jurisdictional specific, but it would certainly limit the sources for providing credit reports.  

I was speaking with an agent last night who said that their brokerage told the property management division to get out of any contracts within the city limits.

There’s demand for rentals in the area, and multi-family properties tend to hold value even in market shifts.New Construction: With SWFL growing fast, new construction is a big play, especially if you can tap into neighborhoods where demand is rising but inventory is still limited.

Utilizing empty lot space in this way helps to combat the increasing housing prices and limited supply many markets have been experiencing.

The only thing propping them up and forcing them higher is our monetary system and governmental regulations that limit competition in the market place. 

The loss created by section 179 is limited to your total net taxable income amount from all "active" business income you have, plus any W-2 income.