Yield in an asset, including real eatate, is a function of the markets perceived view of risk in the asset and market.DC, and Arlington, are amongst the lowest risk markets in the entire country, and thus will have incredibly low yields on purchase.Part of that risk profile though is how much future appreciation and rent growth are anticipated in said markets.

I don't know where you are, but the majority of the country is seeing double-digit increases in rent rates and demand is high.

Remember, there really is no “wrong path” here, it’s just what you want to do and the goals you have. 

The obvious path is just to collect the last month's payment outside of Zillow for the outgoing tenant.Appreciate your inputs on this.

I have seen several posts this week in this style and it could easily confuse new investors and misrepresent LP and GP syndications as an easier or a quicker path to wealth.

I have allowed longer stays in RI when there was an out of country guest parent coming.

Rates are still pretty low so this may not increase your payment much, maybe even lower it, and allow you to retain this property, if it still makes sense as an investment.Also, fixing it up and attempting to market it as a lease option may be a decent path to go down, if you decide to sell.

Ideally, something in the hill country as I live in an Austin suburb.

Your most efficient path (dollar wise( is to sell the rentals and 1031 exchange into new investment properties in FL>Now the caveat to this is if you want to move to a different property in a year or two. 

I live out of the country but I'm guessing our processes are similar.