rehab decision - 1 or 2 family

Good morning all. This is kind of a long post, but I could use advice from those of you with experience. But first, I want to thank you all for your willingness to share advice - reading on this site (as well as countless hours of reading, researching and looking for and at houses) has led me to buy two houses, both of which I now will rehab. One is simple - it can only be a 1 family. The other house is the subject of this post.
The house is an old grand dame in an older neighborhood. It is block/stone exterior and it is built like, well, it is built well. Even the third floor shows absolutely no sign of shifting or settling. It is a three story with full basement. It is now set up as a two family - one bedroom/nice kitchen & bathroom on the first floor, and floors 2&3 set up with a kitchen, two bathrooms and six bedrooms! It has working pocket doors, stained glass windows, two porches with concrete pillars, and a ton of charm. It is in an older working class neighborhoo. It was rented, I’m told, to 27 Vietnamese immigrants until earlier this year. Then a “flipper” from downstate NY bought it and evicted the renters and completely renovated the first floor. It now shines like gold. The second and third floors are stripped, and there are some fixtures (2 toilets, 2 sinks, shower surround and tile for one bathroom) in the house. Rehab will require sanding and finishing floors (I can do this), new lighting fixtures, new kitchen on 2nd floor (cabinets, stove, fridge, sink, fixtures and countertop), installing the new on-site fixtures for the bathrooms, some window putty and paint. Almost all labor cost.
My question: I have three options: leave it as a two family, rehab, rent it and sell (I’m looking to generate cash at this point in the plan); tear down the wall separating the first and second floors and try to rent it as a one family (there’s a university about 7 miles away - this bldg is not in a common rental area, but the extraordinary nature of the building itself may lure grads looking for a quiet place), and once rented, sell it; or, third, make it into a nice big one family and try to sell it to someone who’s buying it as their home (big downside to this is a very small unfenced yard).
So, there’s my question. Open to suggestion. Thanks again for the advice and in advance for your help.