Since you need to make some improvements to get the rents to market levels, it could make sense for you to inform all of the tenants you will not be renewing their leases so you can fix all of the units at once and then get them rented. 

That was kind of my thoughts is I got quoted for 8.9% on a HELOC but running the numbers on a long-term rental just doesn’t make sense. buy more doors and let rent and debt pay down and equity do its staying overtime but there’s also a lot of pucker factor if everything doesn’t go according to plan. 

If the tenant makes sense, the rent is there, and it all works for the particular property, I'll go with S8.But I'm not the type to turn down a well qualified cash paying tenant simply because I only want S8.

It works for small/medium landlords, but in the long run it makes no sense for large landlords who may pay to have an in house software developed themselves. 

That definitely makes sense!

If a deal makes sense with the cost of capital where it is, then it will make even more sense when the cost of capital goes down.Same thing happened in 08-10.

The mortgage will be 1.2M if I decide to rent or I could sell the older home and bring the mortgage down on the new home.Consider the situation, interest rates and the market, what makes more sense?

But, for the best potential tenant pool, I would suggest looking to invest in neighborhoods in close proximity to hospitals, colleges, local markets, easy commute, provide sense of safety etc.

I typically sell single family houses as Turnkey's to investors from California and to offset the profit by buying into an apartment complex to get the tax write offs makes a good deal of sense.

Your post makes more sense to me.