Some people like Yardi and some like the next one. 

He'll have at least $2k per month in positive cash flow and tons of equity when it's time to find the next home in some years.

Quote from @Josh Jung: surprised you haven't heard of RBP. it's like a mix of services you can offer to your tenants like renters insurance, virtual concierge, etc So the property manager/landlord pays for their renters insurance, and filters?  

Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.

Quote from @Tony Lopez: You are in the most regulated corner of the world and have zero experience.

Some retain the late fees collected.

@Jillian Alonge A HELOC provides quick access to equity for your next property but transferring the property to an LLC via quitclaim deed may trigger the due-on-sale clause—check with your lender.

The cash flow now is good enough for me to retire.  

The next thing you'd really want to do is see how you should allocate that $8mil so the amount of disruptions is minimal, some portfolio management basically.   

Given the fact that if  there is a gain a future year the prior year loss can offset it, it seems that one would want to file the loss so they can offset that gain.