Bought Two Duplexes & Can't Afford Renovations

Hey All,

I am an out of state investor and I bought two duplexes (so 4 units) in Indianapolis using a real estate agent who was (unbeknownst to me at the time) inexperienced, naive and a bit greedy for a sale. I came to find out that the properties both need significantly more work than the agent represented, and I do not have the money to renovate both. I can do the first one, which will cost me about $30K, but not the second one, which will cost me about $80K. These are my options:

1. Sell the second one at a steep discount (like 20% of what I bought it for), and lose my shirt. 

2. Put the second one on the market and keep it there until I (hopefully) get a buyer for close to what I paid for it.

3. Renovate the first one, and just hold the second one for a year or so until I can afford to fix it up. Taxes and Insurance for one year will cost me about $5K.

4. Renovate the first one with the cash I have, and use a line of credit (which I have of $100K) to renovate the second one, then do a cash-out refi on the second one to get some of my cash back.

Any guidance here would be very helpful. Thanks!