It's staged with a daybed + trundle (plus 2 chairs, coffee table and TV; its a good size), but the windows do not open, so egress by stairs only. 

So consider how long the lease-up will take:Is there so much rental demand that you can show it during the late stages of reno and get a lease signed?

STR can provide more cash (potentially), but its a high risk high reward strategy - if you invest in the furniture, staging, photos, and management or self manage, there is a lot of time and money invested.

I have a background in finance for deal analysis/keeping finances in order.

No, not all the hokeum of this jazzy thing n that jazzy thing, just run the dang numbers, do an analysis, and does it make sense yes or no. 

I have some cash on hand, but, the Florida house and NC real estate is 90% of  my net worth.I have fallen down the paralysis by analysis hole and hopefully your thoughts will help me to dig out.

We aren't playing the game of whoever has the lowest interest rate.To determine if capital gains are worth paying today you should do an analysis for IRR or NPV across a cost benefit. 

Start looking now; don't get caught in analysis paralysis.

It is a fundamental of all financial analysis.

Well said and thoughtful analysis.