The hard part is timing and coming out of pocket initially until you're able to refinance using your new (higher rent) leases. 

At those prices and loan amount they probably could be generating some cash?

He has indicated through our very initial talks that he would like to sell each one for between $130000- 150000 off the cuff.

I was initially surprised b/c my lender has been great and has always included about 80% of new rents on a potential purchase into the equation.

I've retained an attorney and appraiser, and the county has initiated a quick take on my property as of this month.

I have no mortgage on the property and it generates about a $6k surplus each year.When my current tenant moves out, I'll have to re-carpet and re-paint, maybe renovate kitchen.My question is, since all the appliances are original (and still in good working order), when this tenant moves out and I do my renovations (mentioned above) should I sell it before some of the expensive things start breaking down (a new heat pump will run me about $6,000) or re-rent it?

I don't know anything about the listing agent, but the listing broker is a long time local broker, second generation at the ReMax office his Dad started, and was very professional and rapid in his handling of it. 

With last years flooding, the appraisal district may be aggressive on reassessing property values to increase revenues to pay for the "future" flood control projects since voters balked at the mayors initially proposed tax increase to pay for it.

All employees need to be managed to generate acceptable results.

Even if it's a residency program, etc....the longest the two of you will be stationed there is 3 years initially.