My quick calc shows over $300k in available "cash out" based on 80% ARV loans.As far as which to pay off first is concerned, I choose option D...none of the above. 

Hi Daniel,First, it is concerning that you are using a CPA that does not respond to you in a timely manner.It would be a taxable event because what you described is essentially a sale of your mother's ownership interests. 

I'm a little concerned that we might be near the top of the cycle because I don't think rents can keep up. 

Then go onto AirBnb and search for a 5 day stay at the times you are concerned about in a residence near yours.

Also, I guess one of my major concerns was getting rid of the land as it is probably not as liquid as a home property.

I'm concerned that your estimate seems low.

So far I have been told by the fire investigators that it looks purely accidental and it was an electrical fire behind sheet rock.Meanwhile, I have one set of the tenants that is extremely unhappy (understandably so!)

Not as concerned about the facing or doors.How things are joined also comes into play; glue breaks down and water will swell particle board much more then plywood or solid wood.

If you are concerned with the $, tell the painter you will provide the paint.Hope that helps!

@Ryan Rochefort I would say it will be extremely difficult to find a money partner for a house hack unless you would be paying rent at market rates as well.