I would like to learn more about vacation rentals as way to reduce the expense of something I want, rather then as a way to make money. 

Without vision we won't know how far to go or not.When times to decide the big stuff like whether to expand or downsize, leverage up or reduce down, evict, hire, fire, partner, etc - your why and mission and vision will guide you.Aligning your mission, vision and purpose is easier said than done, of course. 

There are also ways to reduce the 30% tax in the US.Regarding financing, there are all sorts of ways to get things done; most of which depends exactly the nature of the project(s) or strategy in question. 

Most importantly, it would help reduce stress because I'm currently scraping by making these payments.My agent, architect and contractor have all been very helpful but at this point I feel overwhelmed and don't know which outcome would be the wisest and most lucrative.

Do this for the next three years selling only one home per year and making the payments still.CD start 2nd year $1,760,0002nd, 3rd, 4th year leasebacks incrementally reducing each year in CD.Including normal builder stop payments notices. $300,0002nd, 3rd, 4th year house sale proceeds minus payments in CD $1,750,0004th anniversary of signing loan total liquid cash on hand in CD $3,510,000I have now have easily made 4 payments of $300,000 totaling $1,200,000.

Do this for the next three years selling only one home per year and making the payments still.CD start 2nd year $1,760,0002nd, 3rd, 4th year leasebacks incrementally reducing each year in CD.Including normal builder stop payments notices. $300,0002nd, 3rd, 4th year house sale proceeds minus payments in CD $1,750,0004th anniversary of signing loan total liquid cash on hand in CD $3,510,000I have now have easily made 4 payments of $300,000 totaling $1,200,000.

None of these things will reduce stress or tension in the situation, might be all downhill from here.regardless of who is at fault here, I'm betting you're gonna need a new place.

Low Investment: This strategy required minimal additional investment, reducing risk.

Rugs and carpets won't reduce stomping and jumping noise.

Since you're rehabbing for rental, you really have to look at the age of your major systems as part of your value analysis not only to see whether or not to update them now or later, but so that if you don't update them now, then when you do replace them, how will they hit your cashflow and reduce your overall IRR of the project throughout it's lifetime.