If they do need financing, then speak with your lender about their new build financing options. 

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.

While I’ve considered cash-out refinancing or HELOCs, the high rates make these options less appealing.I’m debating between using cash to acquire more SFRs or diversifying into mixed-use retail properties.

As you get to this point your gaining more confidence in the options because you know option A and B had a certain outcome that wasn't option C, and this would give you more confidence you're doing the right thing for you.From there, I would be identifying properties to acquire if you don't already have some in mind and then my next sheet is creating the plan.

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

From a liability perspective I am anti-glass tops ever since, there way too many other options.

@Max Bellino For smaller properties like your 2–4 unit multifamily buildings, an online cost segregation study is a quicker and more cost-effective option, providing sufficient accuracy for straightforward properties.

I own a LTR in central Houston that I think would be pretty successful as an STR based on the AirDNA data.

I’m not sure what is the best option here, if anyone could shed some wisdom that would be immensely appreciated. 

argues that zoning ordinances should prioritize functional families and not exclude safe uses of housing based on household composition.