@Brock BonnicksenDo you have cast iron pipes?

I find it ironic that you're an agent, and paying a listing agent is "unacceptable", quite funny actually.

She is now working for about 400$ a month (for that same company ironically) while also chasing her dream of owning her own business.

All the other properties I own are newer.100-year-old properties (heck, 70-year-old properties too) often have cast iron plumbing (my 1911 has it and my 1939 home has it).

However, I am not sure what the material (PVC, cast iron, etc.) to use as tenants might abuse the system more than owners.

Ironically the baths are in good shape.

Ironically it was that UN-reality show on HGTV that started my journey and so that is the theme also of my blog...or at least it will be once I can get it going

Ironically, advising tenants to make sure their landlord/PM company reports on-time rent payments, but then (of course) gives little information as to how a LL would do that. 

Option 1 if the simpler of the two (ironic, since the 203k loans are usually not described with that word), and almost certainly the better of the two options UNLESS you can be certain of the appraisal value, rehab costs, and timeframe of the house in Option 2.  

Plus, I pastor a church…so you can say I have a lot of irons in the fire.