The other thing to look out for is the Short-Term Rental clause, Due to the increase of STR's HOA's are enforcing this so the properties don't get rundown faster with vacationers.How many properties are in the HOA? 

But I've heard of people implementing RUBS to make a significant increase in cash flow.

Make sure you know your market regardless if its declining or increasing in value.

This change alone stands to gain me $150k+ in equity due to the increase in NOI.My concern is that firing this PM may prove complicated due to his status as a tenant.

You could charge a above market rent, since they are likely desperate, and increase your profit margins while addressing a definite housing issue for these indivulaes. 

This summers increase in home prices has only made it more difficult. 

Series LLCs aren’t available in all states so check with your advisors.You didn’t say how much equity you have in each property/LLC but you could possibly reduce the amount of LLCs and with the money saved significantly increase your liability insurance.

It didnt make sense to cash out the equity and increase my monthly payment in my now current primary residence since it will be a rental soon.

There's also corporate development taking place that would increase housing demand.I'd love to hear your thoughts and suggestions.

@Dakota Hicks - You increased the PM but did not change the water/sewer to a monthly expense, thus inflating your expenses/reducing your NOI.