Second, if you look in other markets be sure to look into the long-term stability aspects of the city, the total number of units in the city, compare that to the total number of SFR.

@Patrick Philip Well, the other three being in a historic district does make a difference...the People who like historic district properties generally pay more than for a comparable house not in a historic district, and historic property renovations generally cost more due the restrictions.This is a case where 1/2 mile away are Not comps...many times just a block or two across a major road/subdivision boundary are not comparable.Also, the more sf you have in comparison to comps, the lower the $/sf value you have.....a 1900sf 3/2 in the same neighborhood won’t have the same $/sf. as a 1500 sf 3/2.

How does the local market compare to NJ/NY?

I haven't had too many late payments, mostly because I only have a few units and because my prior PM experience was vacation rentals. 

At this point the units are all leased out, gross rents are 9k, value of building is about 1.875M based on reasonable comparables, current loan outstanding is 600k, building cost to complete about 1.45M.I need to refinance, simple reason is I need to takeout equity from this property so I can build more homes elsewhere (have 8 homes planned to build in the next year).

Compare this to your insurance deductible, which can be high near the coast and, as you mentioned, can be higher during a named storm.One wind claim during a catastrophic event should not cause your insurance premiums to go up, but if you have had multiple claims in the past 5 years, the frequency of your claims could cause an increase.The reason I do not advise you to call the insurance company first is that it will be entered as a claim on your policy, even if you ultimately do not receive any money from the company.I hope this helps. 

That's worth having a high-quality tenant and it should be worth it to them to avoid moving, paying more, or potentially winding up with a nasty Landlord.If there's even a chance they would cry over an increase, be prepared to show them comparables, the value of staying with you, and how much you are losing by keeping them at the lower rate.

Or any way of asking might be what is the most important information a tenant buyer must provide prior to qualifying for a Rent to Own program without being excessive in that it might by 6 to 24 months before a mortgage can actually be obtained. 

@Michael PearseThanks for your response I fully anticipated needing to make 20 to 40 offers prior to an accepted one, but shocked how over the top these other investors were vs my offer.

I own multiple business using a series LLC for my real eatate business, an LLC field as an S Corp from another business and I have one from a prior business just as a regular LLC (I really should close this one but it costs nothing in our state to keep it open other than the time filing the annual paperwork).