Long term $ can range from 6's-10% range depending on all types of factors - LTV, location, unit count, debt coverage, borrower strength, full doc or lite doc programs, etc..

Insurance costs are going up like crazy.

How much profit you make depends largely on your targeted clientele and your property management. 

One of the things I'm trying to figure out is if I'm better off getting a few lower cost properties or on higher priced property. 

I would still need to subscribe to a streaming service for cable tv, so cost savings wouldnt be much (or a wash), but otherwise it seems like it might be a viable alternative?

@Joseph BinkowskiDon’t forget that you can now be qualified as an accredited investor by passing the series 65 exam without any income or net worth requirements.It will cost you around $200 to $300 and will be valid for 2 years (unless you can park your license with a financial advisor firm, then it will last as long as you maintain it).It is not a difficult exam and you should be able to pass it with around 40 hours of self study with a good prep book or website.

The primary risks at this point would be       1) to your lender, the risk of a margin call.       2) To you; underestimating the true cost of a project and cost overruns      3) To you; legal risk of securities regulations if you partner looses money. 

Same property listed water bill paid by landlord so how much does it cost to put individual meters for each property so cost can be moved to tenants? 

All of this depends on your market having demand, of course. 

Calculate how much more in interest, lost profits, etc it will cost you to have this “blip” on your credit report.