Is it that the 1200/month original cash flow is now paying down the refi, and then tenants on the other 3 properties are paying down those loans?

In the Seattle market, condoizing costs around 15K (survey, site plan, recording fees, legal fees, HOA creation and coaching from lawyer, setting up utility sub-metering if required).

Ok, so does one comp for what houses have sold for recently or for what the improving real estate market will pay?

It will be a whole lot cheaper to do it now than when you have to give back a week's worth of rent, and then pay someone twice the going rate to go and fix it.

Can any of these vendors lien the property if she doesn't pay? 

Might be worth just starting with Quickbooks if you plan to use it for other properties beyond your commercial property.

I would like to look at some HELOC options if possible but I was told I would need to refinance the loan to a conventional investment loan and take on a much higher rate, which I have no plans of doing.

A significant challenge was managing the renovation process while ensuring minimal disruption to existing tenants, which required careful planning and communication.

When you guys calculate ROI on a rental property do you typically include the equity gain from paying down your mortgage?

If you are just picking up "deals" hoping someone will pay a premium in a struggling market, then it will be tough for anyone to sell. no matter how many lists, emails, or phone calls you make.