the majority of even my national users are looking to keep cash in reserve and as such are looking to landlords to finance that TIA as additional rent at a return premium and then that extra rent bakes off in whatever term is negotiated. 

Highest number of units without getting into commercial buidling codes at 4 units you have additional engineering requirements. 

For comparison, I just completed two new build duplexes in a flood sone in central Houston using a builder for these and my Hard + Soft costs were $149/ft. the only additional cost to factor in was the land.

In addition, a strong property management company will tackle all aspects of marketing, application, ensuring resident satisfaction, fair housing, handling late payment/evictions, renewals, etc. 

Bringing in a partner, second mortgages, line of credit are sources of additional funding to close. 

Account ClosedAdding your property manager as "additional insured" is standard practice and beneficial for you.

Additionally, consider factors like vacancy rates, property taxes, and long-term market trends in your target area.

.- Access to funds: I could consider a cash-out refinance or a HELOC to access funds for additional investments.- which property would you recommended me to keep? 

.✅ House Hacking – How to Live for Free While Building WealthHouse hacking is where you buy a property with multiple units, live in one, and rent out the others to cover your mortgage or generate additional income.

Best Value adds are:Updated kitchen, updated bathrooms, cosmetic remodels.Additional bathrooms - finished basement spaces, in unit washer dryer, central air, additions/alterations.All of those are useless though if your roof is 30 years old, your mechanicals are from pre 1950's, and your home is in dire need to be renovated "behind the walls"Otherwise the above will increase your value but you will be left with Lipstick on a Pig