Once on the verge of being scrapped, the ship has undergone $45 million in repairs, boosting visitor numbers and profitability.

Plus I just got an offer in this property with 45k profit and I think I sell it.

Roughly a 1300 profit after taxes etc etc. last year was a down year due to evictions and remodeling. this home is on a conventional loan.

When you buy a property, and hold a mortgage on that purchase, the excess cash you have between rents and costs is a form of profit but the short fall is NOT a loss, it's additional capital investment. 

It's been fun/interesting/profitable. 

They are in the closing process of selling their house and will profit from it and the money will go into housing for the mom and the 2 kids.

If we make a profit of $130k by selling the townhouse and minus all the cost (agent commission, selling cost, maintenance), then we use it to recast on the sfh, the sfh mortgage will be down about $800/month.

All that means is everyone puts money into the deal to buy this 5 plus apartment building and split the net profit if any.

Removing tenants is a serious pain in New Jersey - though I realize those specific deals may be rehab and profit opportunities.

With the right improvements (even modest ones), you could increase rent and make it a more profitable rental without starting over with a new property.