It is not absolutely necessary, but it makes keep things straight easier.Also a separate credit card for each house is nice as well.

Now at first glance that just looks like a straight 15% of the houses are taken away from people who want to buy them a their primary residence.

Paying for their moving van and forgiving/discounting back rent due in order to get the lease terminated and the tenants out might be a much quicker/cheaper option.Just a thought. 

They had previously rented this rural property out for very cheap without raising the rent for 10 straight years.

Did you start out with SFR then move to MF or did you go straight to MF.

If you want to learn you need find someone like myself who will sit with you one-on-one, ask you about what you seriously want to do, what you can do and then give you all the tools you need e.g. a business plan, business models and philosophies that help to keep you on a straight path when when you have business problems.You will never get that around a bunch of Big Mouth Wannabes and real estate brokers who are so ignorant and desperate for business they need to go to club meetings to pick on newbies because they don't have the brains to build a company with investors like myself.

I'll ask the lenders about doing a straight refinance into 30 year conventional loan.

If you want to connect with your specific scenario, I'll shoot you straight, whether you like the answer or not.TYFYS and best of luck!

I believe it's at a discount because they have a smaller buyer pool due to the purchaser having to be an investor.

I didn't quite get the second part of your question; however, I assume you were talking about the previous lessee, who held the lease prior to yourself, and 'giving away the property' at a discount (my assumption).