If the property breaks even, or operates in the red currently, it will only operate deeper in the negative (unless you find a strong ROI like creating more bedrooms, convert a non living space to living space, etc) with another loan. 

When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.

Any pros/cons on either or any other operator suggestions would be greatly appreciated. 

You're talking about programs generally run by the government as the operator of last resort because no one else can make enough money to make it make sense.

We need to optimize industries our areas offer or specialize in.My area has tons of fruit orchards and crypto / blockchain mining operations.  

Quote from @Paul Azad Azad: Great webinar/format, please keep it up.If Monday is GP and operating the property, who is RSN?

I support (and use) a utility-cost cap amendment in our leases to ward off those who might want to mine cryptocurrency or operate an indoor greenhouse, but the vast majority of MTR have utilities included and the vast majority of travelers expect that they are.

Section 8 can be very profitable if done the right way, at scale, by an experienced operator, but I think it's one of the hardest strategies to start doing because of tenancies and government involvement.Most new people just think it's an easy government check and there is nothing that could be further from the truth.

I have managed STRs for 10 years in Los Angeles, so I understand the business and operations.

Let them build through hard work like teaming with reputable operator who may take a cut but own the project etc.Neal Bawa and associated companies are another bunch or lier’s who project rosy picture to sign up people but fial to deliver.Those two have made my experience with real estate very companies very negative.