But I am keeping my options open with the central AC unit. 

Happy to help with some creative strategies and chat through some options!

Would vinyl plank or just some wall paneling be a better/cheaper option? 

@Daniel King as long as you give tenants payment options, they can "pick their poison".Most free software for owners, make their money by charging tenants.We've designed our charges to encourage online payments and discourage mailed payments.FYI: not sure you can legally NOT accept cash, but you CAN require them to only deposit into your bank account instead of giving it to you.

I'm currently exploring loan options that would fund both the purchase and rehab costs.

We are looking at all options and any suggestions.

Out of curiosity, how do you all begin looking for a professional in a sea of options?

Keeping both residents (and collecting late fees) is an acceptable option as well.

@Sean PetrieYes it’s a bad time unless you find some stellar off market dealThe other option is if you are looking to hold something for 7+ years then usually never a bad time to buy

I am hoping to meet with someone in my area later this week and discuss all options that may be available to us in our local area for now, in regards to our current situation, financing options, and properties in the area.