After rehabilitating the property, you can refinance into a DSCR loan if traditional financing isn't an option for you.

I'm guessing it would be easiest for them to come two weeks before their move in date and get an Airbnb and tour different options and make a decision quickly like you said. 

SDIRA Wealth is worth checking out and you might find them to be a suitable option based on your goals.

You will be eliminating a tax break that can be hugely beneficial to you as you enter retirement.You're most financially beneficial option would be to sell those properties and do 1031 exchanges into other real estate that is passive in nature. 

You could do a 5 year lease with a 5year option. 

You can consider various investment options, such as real estate for resale or rental, investing in high-yield securities or venture capital projects.

Either way, there are a number of good options currently on the market for the goals you have laid out.

What are other options to buy and hold while recycling my cash and not getting too deep on negative cash flow?

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

There are quite a few other options that you should consider before walking away, though.It sounds like maybe a fix-and-flip loan would be a viable option for you.