My family has owed a modest size cattle ranch for close to 100 years in the mountains above San Diego.  

Hi @Guillaume Derouet , look at the sq also and the size of the rooms.

Fellow BP members,I'm an out of state Buy and Hold investor looking to make the transition from SFRs to small and mid-size apartment buildings.  

Hey everyone, the market up here in Toronto, Canada is booming with new build condos that are shoe box size and very expensive.

Easier on everyone to negotiate a move-out than to force one with eviction.Hard to read the small print in your post, but looks like you have a mix of different size units.

In the same building (~400 apts) there are less than 10 available rentals across all sizes and spotting fakes was easy. 

So there is a difference depending on the size of your inventory.

The other issue is that my HVAC guy said the AC unit (in basement) is too small (3 ton) for the 3000 sqft house per code and need to be replaced but my house inspector said the size of the A/C has more to do with design and planning. 

The thing is I don't know how I'd go about finding a buyer for it once it is under contract because of the work needed as well as its size.  

It will vary by area & asset class.Out where I am 10% monthly & 1 months rent is common.3 or 5 SFR is a very small portfolio so I would not expect to get a price break at that size.