When I accumulate enough equity, I would eventually like to be able to liquidate these and replace them with multi-family residential.Is this possible?

Was everything replaced in the renovation, or do you need to account for things like a new roof a few years down the road? 

A good paying job is a fantastic engine for generating capitol.

I'll bet you can replace the lost revenue {much} more cheaply buying another 4-6 unit.What is the zoning for the area (not just your lot)?  

Mostly cosmetic, wall paper removal, fixing walls, new flooring, interior paint walls and ceilings, fixture replacement, and a patio.

Regardless of the primary residence issue, I'm pretty sure you can't 1031 with the owner of the replacement property being a part of the LLC for the other property.....related parties.

6) AC is system is dated 20067) Roof probably about 10 years old8) Plumbing is galvanized pipesSome will argue that many of these things don't need to be replaced because "if it ain't broke, don't fix it".  

I'm sorry I don't want to pay full blown retail to have a furnace replaced in a house I bought for $15k.  

I currently work as a software engineer and with the reduced expenses I would like to get into REI to get out of the rat race.

BP can never replace face to face networking