The flow of money needs to follow the LLC structure you put in place (another reason to have one Operations LLC).

I would spend time looking at comps on Furnished Finder and Airbnb, see which properties are current vacant vs properties that have availability in the future.

So while every market is different and $4500/mo in rent is nice, are you spending a lot of money to have a less valuable property, versus spending that same $400k (or less) to do a nice renovation and keep it single family home and sell it or rent it out as a nice single family? 

Waiting does not earn money, time is a valuable commodity.

Hard Money total note is $187k, arv: $275k -$285k.

If you have no plans to move back, I'd sell and then decide what to do with the money. 

I figured out the only two money making industries that don’t care about felonies (I have four) is hospitality and construction.

I try to be courteous and spend tens of hours into my tax prep before I ever send them off to reduce the time and frustration of the person preparing my returns.

If you spend $680k + $70k = $750k, you likely need rent of about $7500/month to be cash neutral.  

I can afford to have it be an investment for my kids and not cash flow for me, but I could also deploy that money elsewhere.