They did have an extra step to make sure that you were the owner of the property, but otherwise it was not bad at all. 

We have increased our monthly rent to price ratio from your ~0.75% to 1.1% but the leverage ate up all the extra cash flow (even if the total return is likely higher).You could be a cash buyer and go from your one property to 20 and cash flow 20000/mo but you are still having to buy and manage 20 properties.You can do better on the total cash flow in other markets or rougher neighborhoods, but the story is similar: you are getting an extra ~25-35% in income for 20x the hassle.

You said, "I'll have to put in extra of my own money for reserves..."

Once that extra rental started generating income, he realized the higher interest rate was just a temporary hiccup on the way to bigger returns.In your case, maybe look at a structure that keeps your best cash-flow property on a lighter refi (say 50% or 60% LTV) while you go a bit heavier on the one that’s not producing as much right now.

Think about all the extra time trouble and cost it takes to turn an ordinary house into a vacation rental...just my two cents though...

-Allocate a portion of your funds toward extra payments on the current mortgage while also setting aside money for a new investment.

I actually am an attorney, and still send mine for extra vetting. 

The idea here being you buy a 3-4 bedroom house near your practice facilities--and renting the extra rooms to your teammates. 

This provides extra peace of mind in case your upleg does not work out or the seller or lender will not deal.4) Truly retire for real estate ownership.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!