I struggle with whether I should take some money off the table and sell off some properties, reinvest in other areas that cash flow with some more room to grow on the apprecIation side, or just play the long game and ride it out.

There is a large shopping center there, Coyotes play near there, Cardinals Play near there, concerts are hosted there, and AZ Dbacks may be looking for a new home soon.I recommend for you to receive MLS listings for multi family homes in that price range so you can see what $450,000 would buy you. 

I tried to look at the site for my county, and they only had a hand-ful of properties listed, even though there were a couple hundred being auctioned off.I saw lots of "lists" with Auction.com branding, but scoured their site and couldn't find them...

you can have them sign a brand new lease agreement, but if you are only changing the rent or simply extending your original, it is unnecessary. all you truly need from a contract point of view is an addendum to original lease, which references the original.

@Nina IbrahimbegovicIt’s their money and their risk so you gotta play by their rules .

Im a long term investor and when buying not planing to sell in 5 years, the reposition and sell play is basically Flipping MFR.

I'm sure this plays into the duplex-fourplex market as well.

Passing may be the right play, but I can't see how much I'd learn in that way honestly.  

What role do you want to play in syndications - silent money partner?

@Yusuf K.For starters look Google CBRE 2018 1H US cap rates.. there should be a category for retail.. the bigger the brand the closer it deserves to be to that market cap rate..