It really depends what you want the units for (to live in, sell, rent out, etc. and what your timeframe is).

Then we’ll be faces with the decision to sell them or refinance them and hold for cashflow.

My partner and I are actually considering selling a couple of smaller deals (8, 6 and 5 unit properties) off market.Where is your property located? 

There's a lot of contextless data flying around and there is a big difference between people who want to sell you something in the short run, and people who want to see you succeed in the long run and they'll use the data to suit their needs. 

Do you have to sell them together or in the same year?  

Of course, sometimes it's difficult to sell a house this way if you have alot of equity since the buyer will have to come to the closing table with that amount of money before assuming the loan.   

Homes are selling quickly, and you can expect to get close to your asking price.

.: What happens if this old lady doesn't sell her home?

When thinking about loans, think of getting the loan okayed, loans for fixing up, the value in the long term, the state of the buying and selling market, and where the property is.

Similar type properties ( 2BED, 1BA, that are updated/renovated are selling between  $420k -$525k.