In summary, the trade off for lower cash flow can be a group that operates more conservatively with a low LTV ratio, ample cash reserves per door, underwriting to rising cap rates, and 40%+ of return deriving from NOI, all of which will mitigate the effect of a downturn on your total return. 

The next step will be to trade in our portfolio into a larger resi commercial building or to use the money to simply buy additional units to add to the portfolio. 

You can do flips (as you can always trade like stock) with renovation.

If yes, then you're going to need at least 1,001 hours in a real estate trade or business in which you materially participate.1,001 hours might be a stretch for two units and would raise some eyebrows. 

The unit traded 2x subsequent to my disposition, both times for less than my sales price.

@Joey Chrisman From what I think I know, if you do the work yourself (no subs or specialized trades) on your own property, no GC license is required. 

As there hasn't been any, we have to take the IRC and Regs at face value.In a nutshell, it's a trade or business determination.I imagine if you sell a rental property at a substantial loss you're going to want to take a 1231 loss (trade or business) instead of a capital loss (investment)?

In the end, you're going to swing and miss on 19 out of 20.

Talk to @Thomas Rutkowski - He's posted here and knows A TON about it... definitely one of the masters of the trade as far as designing the right policy for you.

Should I attend a trade school?