The quality of neighborhood starts deteriorating...

But I haven't seen many, just few different methods, e.g. four or max five.

Pros:Strong cash flowMajor affordable housing shortage in the countryBarrier to entry - zoning prohibits new parksPride of ownership - the residents own the homeLower operating costs - the residents own the homeLower touch - the residents own the homeSticky residents - costly to move a homeEasy to raise rents - costly to move a homeRecession resistant asset class - affordable rentLarge private equity funds are entering the space - drive prices upMom & pop ownership - opportunities to improve NOI and valueLower entry cost per door - less capital neededCons:Not sexy - smaller resale pool (but that's changing)Stigma - some counties try to stop operations (poorly operated parks, criminal activity)Stigma - some people don't want to live in oneLower credit quality residentLess appreciation potential, unless forcedNiche investment - helps to have scale to properly operateMany banks don't understand it - tougher to financeOlder assets in many cases

The valuation methods are:  Actual Cash Value, Functional Replacement Cost , Replacement Cost .

The next one is April 9th.If you still have no takers after you've tried to sell them via the above methods, then you definitely have a price problem, because there is no shortage of buyers for the type of properties you are describing.

I do my own estimate based on J Scott’s method, along with having my GC walk the property with me.  

The properties are owned by our LLC.Assuming nothing changes from the current tax perspective, what is the "smartest" tax-efficient method of getting this equity out of our investments:1) Cash out refi $1.6m (80% LTV of all the assets) and invest that money in a more liquid (albeit lower return) investment vehicle?

If you have cash then i would advise you to invest using the BRRR method. 

I generally like to see rents of $900 to $1,000 and above, but that can be market dependent.Visit the area and the provider you are considering - there is nothing like a face to face, seeing the neighborhoods, the quality of the rehabs, and the operations of the provider.Fully vet the property management - nothing is more important than the PM in the long term success of your rentals.There's more, but those are some keys to look out for.All best in your REI!

I currently do the majority of the advertising, but that will change once I figure out the best methods.