If I wanted more information, I'd call some of the rental units for sale, property managers, and real estate agents in the area to get a pulse on what's going on down there.

Check out Chad's books Retire Early with Real Estate  &  The Small & Mighty Real Estate Investor both on sale THIS WEEKEND.

Some banks might require a cash portion to your initial investment.  

Don't forget the cost segregation on the SRT portion to save you taxes.This post does not create a CPA-Client relationship.

The median sale prices for 2-4 unit properties in these counties is $775K.

Not giving tax advise, so check with your CPA, but I sold a rental after it was my primary for over 2 years and as long as it was considered my primary residence "2 of the last 5 years", I did not have to pay capital gains on my property sale up to the IRS limit. 

thank you so much, i can't let her out just like that, i wish i can as she has drive me crazy like 20 times a year with her heating issues and others issues. i have to keep renewing her lease unless she is paying late cotinuesly or no payment or i move in by myself or i sale the property.

Asking an attorney if you have enough legal protection is like asking an insurance sales guy if you have enough insurance.

My concern with both the refi and sale option is getting less than optimal terms if the NOI isn't there to justify the values. 

I approached them and told them our plan to convert the space (assumptive sale style) and offered to renew their lease and lock them in for the same rate for 18 months at the same time.