D) which of these two strategies would have the better resale potential?

Based on my experience even with hiring contractors you may also need to do some minor project management to keep the project on track.I definitely see what youre saying about the General Contractor saving me money in the long run due to him knowing local regulations better and getting better price on materials!

You should be able.to negotiate a better price with cash.See if you.have a local Real Estate club you can join.

You'll be able to analyze properties quicker over time and by doing this you'll put yourself in a better position to identify a deal that meets your criteria quickly when you see it. 

But even if they don't fall soon or enough, we'd be locked into our rate and can look to add value other ways until better refinancing scenarios present themselves.Investors, have you used this type of product?

If yProbably better to look outside of Dallas area. 

Mentors build us to be better humans in many cases.

The property is a 6-unit building in Los Angeles.Given the significant difference in current rents vs. market rates, I'm looking for advice on how to legally and ethically approach raising the rents to reflect market value, should I decide to move forward with the purchase.Some additional context: even if I were to negotiate a better (reasonable) price and were to successfully evict a tenant who is 5 months behind on their rent and charge the market rent for that unit I'd still be -$600/month. 

Since you still have a job, try to get an FHA loan or better yet, a 203k loan for a distressed multi unit.

I use a PM on our STRs and MTRs and my performance after PM fees is no better than if they were LTRs.