Any preference for one over another?

So depending on which of those you see as a benefit, you'll likely prefer one or the other. 

(Please correct me if I'm wrong)I'm looking to purchase in B class (or better) area, preferably better. 

So, I'd prefer for them to stick with me as I do want to invest in another rental every 2 months or so with the same structure listed above. 

Oh and I am looking for the homes where residents would go to Forney High School, preferably closer to the fox hollow neighborhood.

However, it comes with higher risk and upfront costs.If you prefer diversification, using equity for a down payment on a new property spreads your risk and potentially opens up additional revenue streams through rental or appreciation.It comes down to your risk tolerance and long-term goals.

I would prefer to keep in just between family, but I did offer a second to them.Thank you, have the best day ever. 

Even if you are flush with cash to invest, know everything and aren't leaving your preferred market, would there ever be a reason to MTR arbitrage?

There are embedded cash flow projection functionalities with QuickBooks, but you can always export to spreadsheets to accommodate  your specific preferences.

Quote from @Paul Azad: Seeing many new opportunities for us passive investor types, including "Preferred Equity funds".