Maybe they can talk to the tenant and see if they want to cut their lease short, possibly for a few hundred extra dollars to help with relocation costs.

We use a rental management company in Birmingham to manage our property.Long story short. 

I also have a small 401k that I am trying to figure out how to use whether it means closing it out and taking the hit or finding a way to transfer it into a Roth self directed.As I said I am really grateful that Bigger Pockets is here and have just been diving in the last few weeks since discovering their Youtube channel.Thanks Ya'll!

We discovered it was in a 25 years flood plain during the option period.

I just discovered this just before I made the post. 

Maybe your first step should be to figure out what YOUR long term or short term goals are and then figure a way to make the properties work towards those goals because you have so many really good options to work with. 

However, to achieve those returns requires renting individual rooms month to month as well as for Short Term Rentals (AirBnB style) rather than renting each tri-plex as an separate living unit.  

Interested in taking on our first real estate project and have our eye on a short sale that needs A LOT of work.

I would imagine this would incredibly difficult to discover so not sure how you're doing that.

Seller finance to get started then refinance shortly afterwards, or are you thinking the whole 5 years?