If they are up for renewal and you elect to non renew them you must stop accepting funds from the occupants after the lease expires (accepting rent after the lease expires may make it appear you have a tenancy at will agreement). 

Other than paying for an appraisal or BPO (and maybe a credit report), you should not pay a lender anything until your loan funds.

It might be wise to sell it just from a management standpoint and reposition the money into some index funds and maybe another property in NC.

Home prices always reflect how desirable a neighborhood is. 

Doesn't sound like it would be too difficult to get funded.

WARNING: if you do not prepare for this, you can enter a death spiral: deteriorating properties lead to lower rents, worse tenants, more wear and tear, even less cash flow to fund repairs and ultimately erode asset value.I do not mean to rain on your parade, hopefully, this is a helpful long term perspective. 

I lost a fund that was going to build 25 of these they decided on Austin Texas. land is cheap in ohio. there's 5 plots of land right now for 40k or 50k and we build houses 10x land cost or 10% land cost of after built value. don't do existing it's not worth it.

Look for desirable areas and live just outside of it.

Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

I am stating out with wholesaling and once I raise enough funds will be investing in rental properties and flips.