I think TX and probably more specifically North Texas meets most of your criteria. 

Just someplace to think about as well.  

Think areas that survive on tourism.

I'd also think about having someone live on site to make sure they don't come back. 

But I think right now is the time to be ‘greedy while others are fearful’ I am still finding deals, it may be harder but it is definitely possible, does anyone else feel the same? 

Everything costs more than you think it will, takes longer than you think it will, and exit strategies of selling or refinancing are a bit more complex and difficult than strangers on the internet make it seem.

At 6% appreciation, which I think is reasonable in this neighborhood, IRR moves to 25%.Option 4) Hold on to all properties by saving $3k/month of W2 income and refinancing in a few years if interest rates decline -- Pros: Maintains entire portfolio.

I have 50+ rental houses and a handful of office buildings and MF so I'm almost where I could pull it off by myself but I still think we could have more "pull" with a larger combined portfolio and shared resources.. 

Though it might be naive, I was thinking of a buy and renovate project that would cost between 150k and 200K.Any recommendations and/or resources towards this goal would be greatly appreciated.

I'm thinking at best maybe 1% lower than what we are seeing now for investment properties.2.