As I continue to gather up my strategies & game plan on investing out of state, the more I think of which investment makes more sense for myself.

Plus, it could take more time than you think, so plan accordingly. 

I’ve had two sets of tenants that have both stayed 2 years with the current tenants probably planning to stay longer than that.

And, with proper planning you should have worked around this. 

I've come up with a solid plan for the work and have a well-respected, but unlicensed welder to perform the work.

If your plan is to hold the property for a long time, go with either a 30 year fixed. 

Plan on longer timeframes and overages.

That's ok so long as you have a solid plan for when you have a cap ex. 

@Steve SmithLots of options with legacy planning I would recommend working with your advisors to create a detailed plan to make sure you are accomplishing your goals in the most effective way.  

We plan on using a money marketing account to save with until we buy our property to live in rather than it be a rental property after the next 6 years.