There is a lot to discuss on this topic.

Jason Hartman has a lot of good content on this - you can find his videos on YouTube. 

Yep, thanks for confirmation on the standard concession limitations.  

I've been reading up on the industry; Rental Property Investing, The 10X Rule, Skip the Flip.

Here's what you need to know regarding evictions, renovations, and raising rents.Evicting tenants who are behind on rent in NYC is a lengthy and procedurally strict process.

Based on your questions I suspect you haven't done this before and suggest you retain either a real estate attorney or an experienced real estate agent who will assist you on a flat rate. 

I would look at holding the better located property (given your optimism on appreciation) and selling the one with weaker fundamentals.

Quote from @Matthew Wolk: Any recommendations for DSCR wholesale lenders that will do a blanket loan on 7 properties ranging from 85,000 - 240,000. 

My urban places do better on Airbnb, and my more rural areas do better on VRBO.

Network: - Post on BiggerPockets for investor interest