Are you bound to keep everything or can you make a judgment call they the stacks of newspaper are prepped for recycling? 

My plan was to refinance to a conventional loan with the idea of recycling my VA loan into another multifamily in the future.

Cindy - I would say Deal #1 is the priority if you're looking to recycle your money as soon as possible as that (to me) has the greatest opportunity to drive value in the short term by increasing the NOI of the property.

@Rob McDonald   One syndicator I vetted recently and put on my DNB (Do Not Buy) list was one that recycles deals....taking acquisition and disposition fees each time.   

Intel is a great example, who is building the largest chip manufacturing plant in the US right here, and it will be a $20 billion dollar investment that brings a few new thousand jobs.https://www.dispatch.com/story/business/2022/01/21/intel-ohio-building-computer-chip-factories-licking-county-jersey-township/9173472002/ Here are a few more recent investments https://www.10tv.com/article/money/business/hydrogen-power-company-hyperion-bringing-700-jobs-to-columbus/530-25907aab-5517-4661-a9f3-d2ed2d5be6b0 https://news.wosu.org/news/2022-02-08/rumpke-to-build-50-million-recycling-facility-in-columbus

We pay water/sewer(not submetered), trash/recycling and gas heat. 2nd floor is a 2bd 1.5ba that was renting for $995 before we moved in.

The disadvantages are that since they are smaller and “cheaper”, you have more competition (including hotels at that point), hard to find a property manager that will manage them (they are higher maintenance, you have to take out trash and recycles, etc), and there is a limit to how much you can charge since there is so much competition.

@Manuel Angeles - here's a great article on RE cycles: http://www.extension.harvard.edu/inside-extension/how-use-real-estate-trends-predict-next-housing-bubbleI haven't experienced the full range of a cycle, but it looks to me like we're in the declining vacancy, new construction phase (i.e. still on an upswing).  

First in the incredible mountain of trash from purchasing new furniture, and buying in some markets where it is different to even find basic recycling, and then in the way guests create so much waste during their stays.

The trash cans and recycling bins are back there as well, sitting outside.