I think your hands are tied for now because that is what the lease says. 

Hi all,Was hoping to get perspectives / hear stories on how others approached the possibility of selling RE assets and using the proceeds to paydown debt on other properties.Here is what I see as potential +’s and -‘s:+ increase cash flow by removing mortgages (so more passive income)+ opportunity to sell underperforming assets- less assets under management (so less potential equity appreciation)- taxable gains (will not redeploy into RE as my sense is we are near the top of the market)- 30 year fixed mortgages in place at low 4-handle rates (based on simple bond math, the value of my liability is shrinking on a relative basis as rates rise)Other facts relevant to my situation:* RE is but just one asset in my portfolio (and I’m fine with that); cash flow and appreciation are great, but I’m looking at the asset class as more of a long term hedge against inflation * not looking to leave my day job and / or replace W-2 income entirely with passive income * don’t need the cash flows from RE; again, I see the asset as a levered inflation-hedging play

Even if you want the easiest, most hands-off turnkey option (so paying market prices, not deal hunting) you could set yourself up with a few thousand bucks in monthly passive income, and a handful to 10+ properties, depending on whether you leverage that equity to the hilt or pay cash for a few properties. 

I used a very simple PayPal "pay now" button structure to take bookings.

Phase 1: BRRR House 1 PurchasePurchase Price: $76,888Closing Costs:    $ 4,690Total Initial Investment: $81,578Phase 2: RenovationsReno Budget: $25,000Phase 3: RefinanceAfter 1.5 years of slow renovations the house was appraised at $175,000.Existing mortgage balance before refinance $61,5000Refinance Mortgage New Amount: $105,000Cash Out In Hand: $39,700Phase 4: Purchase Another House - BRRR2Purchase Price: $120,000Down Payment: $24,000Closing Cost: $5,500Total Initial Investment: $29,500Phase 5: Rent BRRR House #1Mortgage: $657Insurance: $75Total Cost: $732Monthly Rental Income: $1,450Monthly Passive Cashflow: $718**** I was really lucky with getting $1,450 as the monthly rent, was really expecting $1,300.

You may or may not have sufficient primary insurance, but I highly doubt your PERSONAL umbrella policy covers business pursuits, no matter how hands on you are.

Not much you can do on tax in that situation, but if you were open to exchange - there’s definitely some hands-off investments you could check out.

I don't think it would be at all crazy for a newer flipper to hand the general contractor bid to an appraiser experienced in ARV appraisals.

Are you looking to go out of state (I assume so since you asked for areas).Turkey is great for the hands off investor especially when going out of state.

On the other hand, if you are in an area where people come in and just move in, there might be some upside, but I think it will be minimal.