I would like to pair or assemble a network other than the ones I have New Orleans ,LA / Baton Rouge . or In the financial district in SF, California.  

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

From the sentiment of your post it seems like you're viewing the buyers as strictly investors when they may lean more towards traditional homeowners looking for a quality of life improvement or an improvement on their current financial situation today.Let's say the buyer pays 465k and has a 5% interest rate.

Sounds like they are dumping a bad 1031 property into a REIT and spreading the financial burden upon existing REIT members. 

Regular tenants may have more of a support system when they have bad financial luck.

An article from The Mortgage Reports explains:“The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals.

That's why I am a big fan of financially having a base and knowing what you are buying.

HELOCs are not available because they are residential loans guaranteed by individuals and what you seek is a type of commercial loan or credit line which are available to seasoned companies with proven financial track record.

If you don't want that, I would sell it or put it into storage (which may not be financially feasible), but long-term renters are hard on furniture that is not theirs. 

If a tenant (friend) needed to move, I wouldn’t want to be in a bad situation financially.