But I am leaning towards just pure rental of the unit. 

Judges will most likely lean toward siding with or giving more to the tenant and their "sad story"

Given recent events, I would lean more on markets driven by "essential businesses" and have low cost of living metrics.   

If you have lean operations, you'd be surprised how much you could still do while working your day job.

That being said, be sure you are looking at their comp set, because I know some agents that get really aggressive on pricing, and for a cash out refi, your appraisal will likely lean conservative.As far as it being a rental, do you own in your personal name or LLC? 

I would definitely lean toward buying as it will (probably) appreciate, you'll get some principal paydown and could even keep it as a rental afterward.

I like to mix my rentals but lean towards A and B neighborhoods, cash flow is not even close to what you would get elsewhere (for example I can buy an A neighborhood near me for $400k and get $2500 a month rent and get the same rent on $100k property in the midwest).

Thank you for the input, that is where I was leaning too.  

This might just be a case where you have to lean on your buyers attorney.Good luck!

I’m leaning toward not touching any of my previous investments and leveraging new deals only.