Sometimes assesors ignore outlier sales and do nothing at all.

Ignore the equity as its wrong.

I was going to suggest ignoring the voice mail and that the former tenant filing a police report was likely to end exactly the way it did.My dad was a "building superintendent" (fancy name for janitor) for three buildings in Evanston, Illinois. 

And just ignore "his" 50%?

Ignore him.

However, for somebody that has a good portfolio and wants to simplify I would argue that refinancing and reinvesting is not necessarily the ideal approach given the stresses that it can incur.Again, this is coming from a place of ignorance since I am fairly new to investing but I think the beauty of real estate is that you can make it as complicated or simple as you like and tailor your investment to your vision for your lifestyle so perhaps the one approach fits all mentality is what I am against.

. - discount or ignore the “could earn more” statement by the realtor.

Ignore everything in window 1 after 12 months- Repeat as neededHowever, if you have a fixed rate loan at a good interest rate, I suspect that the money you are using for those "extra payments" might well be better spent on another property.

The renter has paid late several times, and is now completely ignoring his phone call. 

Something we ignored in the past but something we always check going forward.