How do you balance the risks of holding during a market dip versus the rewards of appreciation?

I presently have a negative cash flow  in all 3 properties but am more interested in paying off the mortgages early to reap rewards later.Any thoughts? 

Your risk vs. reward is way off balance there. 

If he didn't want it or can't afford it, I would have reward him with 60 days time to find another place, then find a new tenant that can pay what it is worth….  

I want to make sure that both of us feel like the deal is fair and equitable for the risks and rewards involved.Any guidance on how to approach these key questions would be greatly appreciated!

It takes more effort and there's more risk involved (therefor more reward), but it just depends on your goals and how you want to get there.As far as focusing on areas with high demand for travel nurses, that's just 1 tenant-type of many in a changing landscape.

In the end, you have to decide the cost / benefit / risk / reward of doing one makes sense in your situation.COST - You have outlined some of the costs, but not all. 

CAPs are an individual investor's measure of acceptable risk for a given reward.

And it's already reaping rewards. meaning, it's working as intended. 

Seems like most of them never got the RISK / REWARD concept.