What options does your lease give you?

They don't allow auto payments or automatically add late fees, and tenants would have the option to pull their payment back, which is not ideal.

Also, within this approach, the option that attracts me the most is purchasing and installing a 'tiny home' on a campground that allows it.

There a ton of great DSCR options you can find on the Lenders tab at the top of the page, or connect with an experienced broker who can shop all the best lenders for you and educate you on the best options out there.

In option 2, your costs are $25k higher.

Real estate is not the end all be all panacea for building wealth, there are a lot of other options many of which will give you way fewer headaches than real estate will!

I'd be happy to discuss whether or not this would be right for you if you're interested in a lower-interest option vs. a HELOC. 

For example, I will send a tenant the lease renewal options and give them one week to respond.

I’m going to talk to them today about the complaints that I am getting, but if this pursues, what exactly are my options in this situation? 

I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this.