Considering offering $200 now and pay the balance as a closing credit if they wish to buy the property at the end of their lease.

According to the prelim study, 78% remains in 39-year MACRS and the balance amounts to a $200K increase in our depreciation expense this year (catch up from foregone depreciation since 2011), which is an estimated tax savings this year of $65K.

You should probably be seeking out whats called a "small balance commercial lender"

Sure there’s the hope of appreciation, but that’s not guaranteed and I like to know that my mortgage balance is shrinking even if it’s very slow.

Couldn't speak to Lending Tree's options, but i tend to refer HELOCs and small-balance HELOANs to banks / credit unions just to have some flexibility.

However, I want to see if it would be smart to refinance two properties to cash flow less on them in order to add 2 more to balance out the portfolio (cash flow extra $400-500). 

In short, it would negate any advantage to making any early payments, with this advantage to the lender balanced by providing a noticeably lower monthly payment than the $1548.67 to the borrower.

Look for a property that is balanced between affordable and in a good area that has positive cash flow.

After months of seller trying to get a clear title, seller was not able to get the partial release from HUD unless all the proceeds went to the mortgage balance.

Other end of the spectrum are Syndicator deals available now that are buying MFH at a low cost should balance out your portfolio.