Hi @Patrick Flanagan, driving for dollars is an efficient way to build a mailing list but very time consuming.

Many attorneys with the requisite experience and equivalent education never sit the added exams, typically for the same reasons most businesses never join the BBB - the designation is mostly a "feel good" for consumers.  

If not written properly, you may find yourself doing an expensive time consuming foreclosure instead of a quick cheap eviction.

Even if it is turn key one mishap consumes the budget.

I think I would personally opt for the (2) multi families on the property.

Implementing unique design cues and/or a small solar system could do just that (especially in areas where consumers are more conscious of social/environment/green issues).

Things to consider: PM is very time consuming and there are a lot of fair housing rules and regulations you have to keep up with to make sure you don't break the law.4plexes are fine and can get you a conventional 30 years mortgage but economically they behave more like residential than multifamily/commercial properties.

My husband and I are very busy with our current day jobs, I own a business which is particularly time consuming. 

I just caution you to be careful with consumer debt even if you have the best intentions. 

I could also opt for a 30 year mortgage at 5.75% which would be a $950 payment allowing for about $350 cash flow a month after adjustments.