This was not terribly relevant because we were going to renovate as we went.

Currently only 3 of them is being rented, the other 3 is still under renovation.

After we bought it, we renovated multiple units, brought rents to market, and upon refinance, pulled out almost all of our invested capital (minus $15,000).

So after renovations its just basic interior maintenance from time to time.

So after renovations its just basic interior maintenance from time to time.

Sounds like a non starter.......there would be no payment history so it would sell at a Big discount and those note buyers are looking for Larger yields and Lower LTV’s than your standard refi.  

Figure $30,000 renovate/upgrade it as a garage/storage unit.So what you're saying is that the house would be more valuable/marketable if the ADU was a useable garage (figure all in basis of $780k) rather than if it was a livable space/rental or studio (all in basis of $850k)? 

Well...the Dayton Dragons baseball team has the most consistent sold out games of any sporting team in North America (startling fact), Warped Wing opened a second location, and a half dozen other breweries are now open in the city...Boston Stoker coffee is totally awesome and has several new locations (this is important because it's a key indicator for the successful revitalization of many cities...beer-food-coffee is key)...there is a river front development that is reminiscent of Columbus (which was awarded best on the country), there is big inner-city revitalization...I saw a developer by the name of Simms pre-sell 24 $500k "Brownstone" townhouses in the center of downtown (unheard of in Dayton)...there are 30 renovation projects going on downtown...and they now have a full time staff on the streets to keep the city clean...the population is on the increase for the first time since 1964....I mean this is pretty superficial, but it's every bit as important as economic indicators...there is a lot more to this...There are still "war zones" in abundance in Dayton and it's the Opiate Overdose capital of the USA...but getting better rapidly...just proceed with caution if you elect to invest there...a local subject matter expert is a must!

My Thoughts:With interest rates on the rise and the fact that I am basically breaking even on the property with no positive cashflow, I wonder if it in my best interest to sell and do a 1031 exchange into a larger multifamily that would generate positive cashflow before interest rates become to high for the numbers to make sense. 

I have looked into taking training on Yardi systems but haven't seen any available at an affordable price for someone not using it for a larger company.