So I want to EXTRACT every single year the 2% rent increase as honestly I am just keeping pace with inflation.

If an investor is new the financing could take 6 to 7 months in some cases.I have had some companies tell me they would sell off market but wanted 4.5 caps and full value was extracted.

Sell these 4 properties, go buy 2-3 significantly better one's with better reserves and really extract the value from REI by buying distressed & fixing up, and holding.These aren't set it and forget it type investments.

.- I have not done a brrrr since the rates increased in early 2022 because in my market they bleed cash after I perform a refi to extract some of the value add

Extract yourself as cheaply as possible because you aren't going to get that money back.Don't beat yourself up over it, we've all had the tenant who didn't pay on time and we let slide a little.

Buying a vacation home and thinking it brings in cash flow is a sure way to make the locals rich, as vacation rental communities are extremely seasoned at extracting wealth from visitors, perhaps especially including those who own remotely. 

Without extracting equity out, these markets would have cash flow far in excess of the cheap markets that initially had better cash flow but historically have rent increases that may not even keep up with inflation.In general, when property appreciates the rents increase. 

People are far more interested in the value and extracting what they can.

Sure, you might be able to extract more value from a condo conversion, but on the flip side you are taking a significant risk, as not you have to think about and cater to the buyer, which is very different then the clients you are current catering to.Just my 2 cents.

If you can get considerably better than 3% on a new deal, it may make sense to extract that 200k and move it into a new deal.