I’ll obviously contact a local attorney but any advice or suggestions would be helpful.  

One person had to go through 30+ local commercial lenders which are the easiest to work with!

We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.We think it could rent for $3,750 - $4,000 per month based on local comps.

I'm looking at small multifamiles and won't have an issue with capital thankfully.I am in Arkansas and looking to stay local-ish initially.

Otherwise, the tenant will make excuse after excuse to buy more time as they fall further and further behind.To find an attorney, suggest you visit your local court and lookup the landlord-tenant docket to ID attorneys with the most cases.

I would also join your local Facebook pages for investors. 

Depending on the salaries of the new jobs they may also price out the local residents on new home sales which would further drive up the price.

@Brett Riemensnider Following @Caleb Brown's advice, you need to contact a local eviction attorney asap and let them know you have demands for nonpayment of rent that have expired and you'd like to start the eviction process.

I mean by safest is on the volatility, for example STRs have many different factors, seasons of the year, local government regs and much more.

Albany, Syracuse, Utica, OH, PA, etc.) for cashflow.The challenge in these markets is that demand is through the roof, and many properties either sell at the asking price or above the asking price (Suffolk's sale price average was 1.5% ABOVE the asking price).If I were in your shoes, I'd explore local and remote multi-family options before considering the mid-term rental route.All the best!