Either could make you more money but dependent on market conditions, location, timeline, roadbumps, rates, etc..... 

Granted - these hard money guys don't play around with their rates and fees - but they'll get you more leverage and help you keep the equity requirements lower so that you can build up a strong track record and start taking down deals with your own / immediate family equity. 

Guessing none of your options are going to be cheap!

Having to book your own AirBnB is a great tool for direct insight into demand, rates and competition. 4.

With the average apartment in my area ranging from about $1600 and up, having a mortgage rate between $1200-$1400 (again, rough numbers the lender provided me with) doesn't sound too bad considering my money would be going towards my investment and not just right out the window.Now all this sounds very intriguing considering I am ready and willing to take these steps, but with where I am at as an hourly wage employee living paycheck to paycheck, in a VERY expensive town to live in, the numbers just seem quite daunting.

I have nice 3-4% rates but just fearful of a hurricane coming through and destroying the homes. 

They are either covering the PMI in the rate or it's a CRA program with income limits. 

. $40,732 mins expenses..At a PP of $1.25M with 30% down ($375k) you'll be short of a 10% COC return..Also 7.2% seems like a very strong rate on a 10plex.

My questions are:a) Is it worth paying that 15 year note off earlier with that interest rate?

You can still easily achieve rates in the low 7s depending on LTV for a DSCR cash out refi.