Local is almost always better if you can swing it.

Although I have knowledge and experience in my local market, I am most interested in some out-of-state options as I like those opportunities better than what I have locally but know little about where to begin evaluating those markets and the pros and cons of the different states.

Nothing better than a physical asset in your portfolio!

These are more efficient and will photograph better for marketing. 

Just went into contract on a home (3 bedroom/2 bath with an outbuilding in the backyard with power) yesterday before doing solid number calculations (I relied heavily on my agent making the mistake of not doing my own due diligence, even as a rookie, I should have known better!). 

Or, are there any better ways to move forward, but still following through on the sale?

If this person would claim this auto expense as mileage on Schedule C then his qualifying income would be EVEN BETTER!

Ideally, it's best not to let your tenants know you live right next door; it's better if they think you're just another tenant.

Should I refi and get extra cash immediately or should I refinance and lower my payment to build better cash flow?

I would seek and pay more attention to the property itself and making it better, Add value.