Buy where you see the greatest ROI over the next 10 years, forget the primary.The difference in interest rates will be negligent if your buying the right assets in the right places.

Overall most of those may be overrated.

Also, what benefit would you actually be able to contribute with your limited knowledge?

@Wei Zhaothere won't be any 'cash flow' in option 2 for several years. 

Would love to buy a fellow investor a coffee to chat over the possibilities. 

Because I would rather earn less and be more hands off Baltimore city has A class areas and F class areas and everything in between.

Central to my argument would be that making sweeping changes to the covenants themselves or changing how the covenants have been historically enforced only addresses the current problem indirectly. 

Looking at some properties around there and it seems to be the norm to have a cesspool in a few towns (WW, Coventry, NK/SK)Any immediate watchouts or gotchyas / red flags?

I would love to get recommendation from you, I've sent you a DM. 

Even if that is not your intention, the IRS could decide that is what it was which would mean that the seller would have lost his 1031 ability since he "sold" you the house when he accepted the first payment.