My goal is to provide a suitable place that meets their needs, and yet I can still bring in a little change but build wealth through equity as I know that would pay off more in the long run or for trading up.

Read through this forum and pick up some books on the fundamentals of real estate investing so you can get a good look at all the different styles and methods of investing.

Comes out to about $6500 for a 1700 sq/ft ranch style home IIRC.I was quoted $3,500 to replace the roof on 1,000 sq/ft 2ba/1ba rental I have.

If people thinking about investing read anything please read the above statement.This is the number one mistake made in real estate.Please find yourself a competent commercial or residential broker who knows investing or another investor who is seasoned.If you are going to put down your hard earned cash to do an investment you need to buy it the right way.Not buying it the right way makes you tread water to lose money and also takes away lost positive cash flow that you could have used to grow into more properties.Ken you can try to get damages against the tenant if you want.Even if you get a judgement good luck on collecting it.It will be a waste of your time.The existing tenants saying they will be out by a certain date I put no faith in that whatsoever.They haven't even kept the place up.You need to file eviction period.This keeps them honest by saying they will move out by a certain date with the eviction looming they have to make good on their promise.Otherwise they simply make up a story when the date comes about (they haven't found anything suitable,they lost some income and no cannot move,they got sick,and on and on and on.)Ken simply go to the court and get educated.I have seen attorneys in court lose and I represented myself just fine and the tenant was out.Just look up landlord tenant law code for your state to start learning.Hope it helps.

It might be hard money lenders but the terms suck, not suitable for buy and hold unless you can refi with a bank quickly.

I end up getting investors that whine like retail style buyers.

Since a 5 unit is probably odd for comps I'd suggest you look at tri and four plexes and up to 6 or even 8 unit properties that are most similar in location, style, rents, condition and age then make adjustments as needed on a unit basis.

There are a few options for you, depending on your time availability & learning style.

We have another lot in Capistrano Beach, where we will build another house, different style.

I decided to go into rehabbing homes because that fits more my style plus I like the challenge of taking an ugly house and making it better for everyone involvedI want to tell you that I have known  a Real Estate agent and he is like a faraway friend, (you know a friend of a friends but he's also your friend but not close) So anyway, to my surprise he has been finding homes and assisting some rehabbers in my neck of the woods.