However, there are better options than $180 a month and $1000 for a WP site. 

I can get prime-0.51% on a HELOC but I don't love the risk to my monthly payments if rates rise - that is why I like the fixed second mortgage option. 

Other options include the BRRRR strategy, which allows you to recycle your capital by refinancing after renovations, or partnering with an experienced investor to scale faster.

@Berry Starnes, @Evan O'Brien Its really not a complicated process.Once you log on to your TSP account online; on the left tabs there is an option for TSP loan.

(eg, if your lot is not the standard 25 x 125, but some other multiple where the width is actually skinnier than 25, and the lenghth is longer than 125, and you want to reduce side setback requirements, eg.) 

Are the students actually doing deals?

This was very insightful and I will look into the options a bit further.

They probably actually have less debt than most other people, so it is easier for them to make rent payments.The vast majority of bankruptcies are medically related.They have been "through the system" and they don't want to go through that again.

Option A would allow me to keep it as a long term rental .

Things like this are why it's important to work with a professional who is well versed in real estate taxation because the "common/simple" strategies taught frequently like BRRR or house hacking actually get fairly complicated when it comes to handling it correctly.