Or sell and have the excess funds , not worry about maintenance and landlording.

Bottom line is it would take a thorough analysis to ascertain whether there is a probably of excess profit enough to offset the additional risk.  

If you want to invest in more rental properties with your excess BAH then I’d suggest looking anywhere else on the Mainland where the 1% thumbrule works (at least a 6% capitalization rate)-- and where your invested dollars will go a lot further.On the other side of buying a home in Hawaii while you’re on active duty, I get many unhappy e-mails and other comments from people who’ve bought here and then can’t cover the sales expenses. 

I started a Series LLC with Bank of America but found their fees to be a bit excessive ($16/month for account maintenance and various fees for transfers out).  

IMO properties in excess of 4-units are likely better valued using an income approach because they are mainly purchased for investment purposes.

Should I consider getting a loan of some form for the work and then using a cashout on the value to pay that off and keep the excess to apply to the next door?

The reason for this is most associated with poor grade or pitch which caused  excessive soil /water pressure against the wall resulting in incremental displacement as wall yields to horizontal earth pressure.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or to refund to the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account that is specifically designated for future investments.

Problem is, the fees are going to be SO EXCESSIVE... it may not even be worth it for you to press forward.i would recommend the conventional route if that's an option. 

Mr Money Mustache and his wife were high payed executives/bankers types earning in excess of $200k a year, and they did the right things at the right time, and no doubt had luck on their side.