Might be cheaper money depending on the bank and increase cash flow. 

If it is below market rent - there may be an opportunity to increase it when you acquire the property.(2) . who can provide a loan for such 4-6 unit multi-family homes?

So I will have cash reserves set for the property.Current RentsUnit 1*: 615 Unit 2: 775 Unit 3: 775 Unit 4: 600 (Will occupy this one)= $2165 monthly rent* I plan on upping this to 775 once in my possession, and eventually increasing all of them to 850 once it's turnover time.

The six and eight are 2br/1ba and the 16 units are 1br/1ba.They are all about 5.5 caps and have potential to force appreciation and increase rents, roughly the same amount proportionately.

Is there a way to increase your income where you currently work? 

I would like to pick up something I can add value to by either increasing the property and/or driving rents up.

It was suggested that I install luan to increase the height of the floor and try to match it to the hardwood, but that is a lot more work and I am not sure this is even a good idea.What would you suggest I do to these floors? 

Here are the reasons:1) Buy selling it now and then buying another property at $1.5M would increase your property taxes as property taxes would go with purchase price of $1.5M whereas you most probably will be paying way less taxes on your current residence.2) you would be starting a new mortgage cycle and adding another 30 years of interest.

You can't get great financing on it and are stuck with the tenant for a year even if someone better comes along.Single tenant length of lease term HEAVILY affects value and cap rate exit on sale among rental increase and other items.

A 10% increase in value probably isn’t worthwhile to refinance (unless you’ve paid down some of the mortgage too).