When you get close to that magical place it would be pretty nice to have your properties paid off entirely, right?  

GinoHey Gino--follow-up question --just starting to look at multifamily ...are the problems I see referred to (pretty much everywhere) that the property valuations have fallen for multi or that a large number of loans are maturing? 

Get the license it's pretty easy to avoid the men in black suits.

With the numbers you posted about your business I assume you could get some pretty good financing to grow your business, FYI.Last point, buying a $200k property probably would not be the best. 

People are generally pretty active there.

Pretty much any way I can add value I will do it even if its a 50k house that will require that I put in hours and hours of work because investor clients are typically return customers. 

If you need the extra funds then they're already factored into your numbers and if you don't need them then you're being even more profitable. 10% in contingency is typically a pretty safe number for this.4.

I have frequently contacted sellers about properties that are off market that I feel pretty strongly that my buyer would be interested in or they have contacted me about. 

But, again, if you friends  in Indy know a thing or two about investing and can partner with you, where you both have a financial stake and they get "more" of the pie relative to their equity contribution in order to oversee the success, that would be the ideal scenario in my book.As for broadly in markets, both are considered pretty good.  

I am in a pretty rural area but I will check FB, thanks for the suggestion!