Rates are much lower now than the longterm appreciation rate for property in LA, so it's a better move financially (so long as nobody is strapped for cash in the meantime) to hold onto the properties and pay the interest on the finance.You might also get recommended a HELOC.

If your bath mats are getting nasty, you need to hear that from your cleaners not your guests!!

We are becoming increasing frustrated with the overall situation as well as extremely cash strapped.

If so, I'm afraid you may already in equity strapped (and possibly cashflow strapped) position or will have to leave a sizeable chunk of your own equity in at the refi. 

There are unforeseen things that will hit you left and right, and you don't want to be cash strapped when that happens.

@Mat O'Grady - Great advice on the taxes, I hadnt thought about that piece@Michael Doherty  Financing would be a mix of my own money, private money and hard money lender. 

@Mat Poole you will get the best terms and rates as an owner occupant. 

@Dmitriy Fomichenko or @Mat Sorensen right now my partners and I all use the 'checkbook' control method and are very happy with it (Dmitriy is my Plan Provider and KKOS who Mat is affiliated with did our  3-way Self Directed LLC set up).I have a friend who is looking to convert to a SDIRA and buy only one property, and NOT have any partners.

All the pop-corn ceilings were assumed to contain asbestos, so we put up 1x3 strapping & covered all the ceilings with new drywall.

The flexibility and lack of alot of business etiquette stuff makes RE a perfect fit for your situation: when you're looking at houses, or visiting your rehab job site, just strap baby girl on your back and away you go.