That will show you all of the issues with the property title and the title agent will be happy to explain how to clean up those issues. 

Hello @Vinay Sanapala,I recommend listening to the excellent comments from: @James Wise, @Drew Sygit, @Jay Hinrichs, and @Mark Cruse.I regularly read people claiming that Section 8 is free money and guaranteed.

I  have a property manager, cleaning, and maintenance people. 

I have a few things I am hoping to get some guidance on if possible:1) Can itemized deductions just be the quotes for things needing fixed/ cleaned?

You still have a young loan so  let the amortization run its course and set your regular income aside for the next opportunity/project that you want to explore.  

I'm guessing it would be about 50% cheaper and with regular maintenance it should last you 20+ years.

I just have 5 units and am doing other work to help pay the bills in addition to doing all the property management myself (upkeep, repairs, cleaning in between tenants, mowing, finding & interviewing tenants etc).   

I feel it's a bit unfair and frankly I am not going to charge the tenant anymore than what the place is worth market rate because of its location and he is a great tenant (pays on time, keeps the place clean, communicative etc) I feel like i should even give him a break because he said he couldn't even be home since there was construction all summer due to building maintenance repairs. 

Inspect regularly.

Once the rehab is complete, the loan just converts into a regular mortgage, so no need to refinance and no second set of closing costs.As mentioned above, you haven't posted a ton of other details, so there may be a lot of variables, but I did a deal as a buyer in this fashion in the past.