Right now we are still in the process of removing two of the other three tenants (I think we finally made it, aside from a junk car left on the property) and working towards getting the place fully rented.

So incurring the fewest expenses is the cheapest exit plan.There is no tax advantage to refinancing the property first - in fact, the refi will often force the taxing authority to reassess the value of the property - which would likely remove any tax grandfathering you may have - raising your taxes.There is no advantage to doing a two step process like you mention.Randy

Most of them keep the props in better condition then cash tenants, as they are aware they can " loose their free ride "Keep crushing it 

We will add a addendum to the lease to remove my rental property manager and add owner.

Will need to deal with Land use, utilities, trees removal/mitigations.

So $100/unit decreasing in inflation adjusted dollars with time and a property loosing value in inflation adjusted dollars.  

It would seem that you have the option, but not the duty, to terminate the lease due to the bankruptcy, but I'm not sure why you would want to remove a paying tenant.

Due to my limited income, this could even remove the option of low down payment just for me to see an acceptable mortgage payment. 

This is somewhat a loose metric for our current business model. 25% is just a arbitrary number with no science or data to support it.

After everything was fixed and they listed the unit, apparently they claimed that I was not allowed to have any understanding of who would be renting my home due to potential bias and discrimination (this is the first time I have not been able to view applicants general profile (credit score/occupation(removing any identity markers)), but fine, I let them choose the tenant and so far there hasn't been any issues.