We are not large scale but we do own properties in multiple states and are aware of the limitation of a subjective line like "should have rented in a hot market".

I see it that your first decision is; to scale (grow), to coast (doesn't sound of interest or else you wouldn't be asking these questions, right), to exit (cash-out) or to transfer. 

Quote from @John Morgan: I’d do individual cash out refis on them to scale up.

If a bonus structure doesn’t work and you scale back, it can demotivate employees.

Time allows for adjustments, scaling, and reinvestment in ways that short-term projects simply can’t achieve. 

No one can answer that because we don't know what market you are in and what your list price is versus the actual value, as well as the scale of the town.When something hasn't sold in 50 days, it's overpriced.

I look forward to learning and scaling with like minded people! 

Yes, the more units you go up, generally the less players in the game so there is some advantage in purchase competition as you go up, but also more management scale and cap ex for someone who is new.3.

So, it's still a viable way of investing, but does not have the same scale of success in today's economic environment in higher appreciation markets.

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.