Now they see the value in multi-generational conveyance of assets, and understand the importance of what it (the whole) produces rather than what they could buy if they sold it (the part – their portion/inheritance) all.

Thanks to real estate I am able to stand on both of my feet without the support of corporate America. it is amazing to see the fruits of labor for all these years. real estate is the career that I will never be retired from. but it does beat 9 to 5 for any given day by a long shot. 

Make sure you run your number to confirm the property can carry the debt service costs.Once a month is more than enough to be on site, make sure the management company doesn't let things go and that can be a nice trip to take with your dad to go see the property (unless you were involved all these years, you'll need his experience to identify things that might need attention and are not taken care of).On top of the on-site visit, schedule a weekly meeting (can be a web session like Zoom or GoToMeeting) with the PM to go over the property status and the finances.Lastly, I'd install security cameras on the properties so you can check in remotely at random times and see what's going on at the property.Once again, this is just what I would do and as I said in my previous post, I'd start all that with a meeting with an estate lawyer and a CPA.

While I don't see the big issue with your rent numbers (all depends on the individual situation of all people involved there) I would definitely pull out as much money from the units as is feasible with respect to a still ok LTV (don't overleverage; rents still need to support all costs) and then use the money to make use of the current interest rates by getting mortgages, meaning of course: buying something.

When I see the property, I think how can I put money into this, but when I look at the numbers, it seems like a no-brainer.  

I live in a great area that rents quick and can see the plus side of the extra unit that is fully remodeled in relation to the location Train shakes my house. yup it's that close ($$$$).  

There's still a lot of space to develop and re-develop, so I don't see the market "peaking" too soon... probably just increase at a slower (healthier) rate than past couple years

I would suggest you use the Rental calculator in the BP Tools to check our your numbers.Based on what others see, the $1k in cash flow sounds quite high, given you have at least $500 month in taxes, although you did not give any projected rent numbers.  

Plus no one can see the gun to get the wrong idea.A must have in my mind if you do any deal with cash in larger amounts.My favorite way to carry is a small handgun in the front pants pocket.  

I have a feeling that once your remaining three tenants see the PIA tenant get booted out and see they have new leases and a new Sheriff in town, they'll straighten up and you'll have less trouble.