Vacancy, again a %.Here is the underlying assumption: the listing numbers are not that meaningful because they are not the financials and I will operate the building differently than it is currently being run and aim for a better return.Sounds like you need access to a better pipeline than MLS and loopnet?

You won't get the full benefit but I believe you would still a get a meaningful tax saving. 

Most of our purchases have had all the investment extracted which provides a great (infinite) return.  

This implies now is the time to lock in as many conventional loans on buy and hold properties with the tenants paying the mortgage for you as you can.The refi allows a partial extract of the sweat equity. 

You didn't provide nearly enough information for a meaningful answer.

While I don't realistically see people leaving the us in any meaningful form if you want to see where it happens at a state level look at the exodus of states like CA and NY moving to low tax states such as Fl, and TX.  

But being a holder for over 6 years and living through the markets Which is exactly the problem. 6 years does not come close to "living through the markets" - it's too short of a time period to draw any meaningful conclusions. 

Lastly, pay a meaningful visit to the neighborhoods you have selected. 

@Justine Ade,You did not provide a few key pieces of information without which it is difficult to give you a meaningful advice.- How big is that metro area and how far is this property from the nearest center of employment?

Were you able to leverage this one in any meaningful way?