This means your total PV is $500k.If all properties appreciate 5%, that means the resulting total PV for each option would be:A - $105kB - $525K,...and the difference between the 2 options grows further apart with every following year. 

yup definitely . would pick up a fix and flip under market . can be a condo, townhouse, apartment building etc . fix it up and either rent and refinance to hold or have an option to sell 

The first two options I gave would be the best if you can do either..

Cleveland will be a great option for that cash flow.

Then I give the seller a few different options to choose from.

Take the fixed option 

Option A appeals to me more.

Candace@Ariella Jacques   One potential downside is that when you refi you will only be able to pull out 80% of the market value (so leaving 20% of your cash behind)  instead of having the option to put down as little as 5% when you use a loan to purchase. 

( perhaps related to STR vs LTR, if I want to have additional options - mainly planning on Long term rental) -Areas that are looking better for cash flow?

Most non-qm options for self employment would also require more than the minimum 3%/ 3.5%/ 5% down.