The paid off property is an attractive and way lower risk / less work investment from my seat.

Lowers the value of everything.

Then you can do a 1031 exchange or sell it at a lower tax rate. 

Accelerated depreciation, taxable income forecasts, and running various numbers/scenarios.Point is that tax planning/financial planning is not the area to skimp.   

Talking of multifamily specifically, how is it that we are getting better cap rates if the prices have not really reset lower.

Below that is a parlor floor, which has the highest ceiling in the building and this floor is connected to the ground floor via an interior staircase which we added doors to both ends to break up the lower duplex into two separate living areas.  

I have found people willing to owner finance their house to me at a lower interest rate.

The payments tend to be lower than a standard cash out refi, so if you end up in a tight cash spot, you have the flexibility to pay less for a bit until you get your bearings again. 

The longer the maturity rate of the bond, the higher the yield is to compensate an investor for the additional risk they are taking on with a longer dated bond.Stocks that pay divideneds....insurance companies have a lower yield than telecom stocks as a reflection that telecoms are higher risk than insurance companies.In the efficient market hypothesis, if markets are efficient then the yields should be reflective of the risk.

With the lower price point rentals, you basically just tread water.