I believe your numbers and your forecast which a lot of the rosy numbers posted do not pass the sniff test on being achievable.  

Since the fiscal year ended in June any HERO financing you do now will be accounted for on the tax roll next year.

Recently, PM suddenly told me that this property needs "lead testing".My PM is not aware of this I already have 2-year lead certificate from the previous onwer AND assigned an inspector for lead inspection for me.

It sounds like you are mashing a lot of different things together here.It does not matter at all if you have an LLC, or if you, or your wife is the owner - it doesn't change any of the tax positioning in the slightest.The test to be a qualified Real Estate Professional is at least 750 hours in real property trades or businesses AND  over 50% of your professional time. 

I generally agree that homes in Cleveland should be tested for lead.

Because it is commercial property, I need to get all the apartments rent out before I can refinance since the appraisal will look at rent roll when I have them to come out. 

I'd let them roll out.

If you have more time and little money then I would look at rehab projects to force equity and get your $ back and roll into the next!

sell the ones that give you the most trouble, and roll the money into the others.

I'd look for signs of arcing around those outlets.Other things I look for are how is the foundation, cracks in the walls (assuming lath and plaster), condition of the mechanicals, depending on what the house is built on, I may get a radon test done for the air and water (near me there is a lot of ledge, so radon is an issue in most homes).