Don't split the two properties with two companies, sign up with the right company.Find a property management company that thinks like you do @Kit Klekamp One who will carry out your idea of what it is to be 'properly managed'. 

Score.There are already members signed up to attend.

This secured me for my 8th rental unit this year, with no signs of stopping.  

Unless you meet the delayed financing requirements, your use of the cash out refi funds will determine your ability to deduct your interest on that new loan....be careful.

But as far as valuing the entire building to determine a purchase price, you should be getting a price based on NOI, so definitely at a discount for the empty tenant.Again, for your sake, you have to ask why it’s been vacant?

Ask your Father to co-sign the loan if he doesn't want to OWC.Good Luck!

Two of the units are month to month, and two of them recently signed new contracts. 

Furthermore, it's going to be a headache when you sell if the permits for work inside were NOT pulled & signed off. 

Often times, after the initial showing, the next time I meet my applicants in person is after I've selected a tenant and we're meeting to collect the move-in money and sign the lease. 

Around here, that's how it's done.If he is truly alcoholic, I'd be concerned that he was mentally competent when he signed the contracts.