While you definitely want to reward good tenants, its your business and not keeping your rents at the level of the market, its money out of your pocket.

if you don't already, study up on the rewards programs of the various card issuers. 

However, UDFI also applies to any tax-exempt entity, so if you can find a CPA who works with non-profits, they will have the necessary expertise to handle this.Depreciation is not the only offset to income, but if you assume you have a net taxable income amount of $100K on an 80% financed deal, then yes there would be a pretty hefty tax bill on that net income of just under $28K. 

Additionally, expertise and track record are vital to gain the trust of LP's.

I think anyone who is holding property here with a long term view and doing it smartly is more likely to be rewarded for it than not.

Just understand the risks are proportional to the rewards.   

Cash-flow is your reward for a good purchase - and for us, our entire paycheck as managing our properties is our full time job! 

Every option will vary in the level of risk/reward that you take on. 

Beware of online legal or medical advice, unless coming from attorneys or doctors.Another point which is in my area of expertise is LLCs and taxes.

It's not an easy business, but it's incredibly profitable and rewarding if done right.