Single family homes are exempt from rent control everywhere in the state.  

You have more control over the timing.   

If not I wouldn't bother selling as there is an incredible amount of money lost in buying and selling properties, so you have to make sure you have a plan to maximize the equity and actually have enough. 

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

Insurance-  we had 18 months of full lost income coverage.  

Unlike some states with strict rent control and tenant protections, Memphis offers a straightforward eviction process and fewer restrictions.

Consequently, I lost the purchase opportunity. 

Last time I checked only people who have lost a home are those who do not pay.

To maintain control and avoid being locked into larger deals, consider directly owning replacement properties or exploring a partial 1031 exchange while carefully structuring syndication investments.This post does not create a CPA-Client relationship.