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.

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

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.

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.

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). 

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

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.