Seller carry is not an option due to the home being in pre foreclosure.

In the realm of finance, understanding the intricacies of various loan options is paramount for both borrowers and lenders alike.

Options:1.

Your client is right though, using a DST as a backup is a good option. 

It feels a little overwhelming to realize there are so many different investment options out there.

This option would require assembling a local team as I'm considering forgoing a property manager.D) Invest in a Better Maryland Area: The goal would be to find a property with higher appreciation potential, though I'm aware that the cash flow might not match what I'm currently achieving.Given the unique circumstances of my current investment—significant appreciation, a specific tenant base, and a low mortgage rate—I'm weighing these options carefully.

It was not an option in our house to rent year round.

I would recommend first establishing what your financing options are based on your cash on hand and cashflow expectations....  5% down? 

Whats available - private money or HML will likely be very pricy.One option could be to look at HELOC options on the investment condo - probably not going to get to the full $100k but could help. 

Before you go looking further into options, do note that using bank financing like a 203k to cover construction costs comes with a lot of extra paperwork.