Hello all, kind of a newbie here so bare with me. 

Once all is said and done, we should have a "profit" at closing that would barely pay us for our labor.

:What's your estimate for these repairsI'm estimating if I were to do the bare minimum that it would land me around $2-2.5k

Once I subtract the monthly debt payments, I could be barely cash flowing, if at all.

This area is producing barely one percent returns but we were ok with that. 

Also if he's held them a long time and has long term tenants they may not be up to date in terms of plumbing and electrical. i just bought my first SFR from a landlord who had it 26 years and you can tell she's been doing the bare minimum for maintenance and updating.

Investment properties that are more than 20 or 30 years old were most likely rented to the poorest of tenants (since anyone could get a bank loan in those days) but investors who spent the bare minimum amount to keep the tenants in the home.

Also, refinancing will mean my current properties will barely cash flow. 

You don't want to be in a spot where you're barely making any money and risk a big CapEx item or missing a month's rent due to turnover puts you in a bad spot.I'd sell, hold on to the cash and house-hack your way into a 4-plex. 

1.9% means that the car company wanted her money so much, they were financing her at a rate that barely keeps pace with inflation and that's it!