Agree with @Jason Miller, take some amount of blended approach as both strategies have their strengths.

Be my guest, I send 10k+, have a marketing administrator handling everything in house, use 8-10 custom software with a blended approach between Matt T.

Some lenders may accept pledging your property as additional collateral for a purchase at a blended loan to value.

You could have a high cap with very low annual increases and conversely have lower cap rate but higher annual increases so that the blended cap and return is better that way.The debt available with  a corporate guarantee versus a franchisee is drastically different.

I think the April post my title probably confused a lot of people since I tried to blend it with April Fool's Day.

Or is it a blend of both?  

@Nisha SaxenaSeems like a rough calculation as to what your tax will be.Just an FYI - there is no 20% tax rate; your accountant provided you for effective tax rate(average blend).

Combining the two into a single number I can compare gets me to a blended interest rate of 5.222% at $1.1M, is that correct?

Even the blended return from a good property bought with the refi is going to be dragged down by the performance of this one.I don't see this as so much a tax issue as a performance issue.

Any who holds dollars (i.e. savings account) is screwed.The best we can hope for is a blend of these.