Did a loan modification combined 11 SFH into 1 loan 14 year amortization 7 year fixed rate 4.75% other than appraisal which was $375 paid a $250 fee 2.)

A plumbing modification that requires digging up the curb trap (or something similar) should cost a few grand.

Tv has become more vital than AC. 

Will this strategy work or will it need some modifications or will it not work no matter work?

A little value add, maybe a unit that is below market value rent, or a modification made to the property that may offer a cost savings.

We have combined 5 separate tax lots into one, large 100x150 lot and managed to qualify for the vital and expired NYC 421-A tax abatement.

Taxes go up, inspections are needed, fines are assessed, potentially modifications to pipes or walls etc. 

@Eric Schleif It's a bit complicated... we have 1 building under contract with a commitment letter from the bank,  requesting another bank commitment for another property we own outright and have 3 loan modification letters to move buildings into LLC's.  

It will also depends on weather it's a split system or an easy swap on the roof package unit with little modification. 

@Michael Bangsal, cash flow is vital but you need stay focused on your cash on cash return.