By diversifying, but still investing in the most promising deals, you limit the possibility of a devastating loss without limiting your upside.  

Under the PAL limitation, only passive losses can offset passive income.

The problem with selling is a lot of that equity will be lost when you sell it either through taxes or payments to your listing agent.If you ever have the ability to limit these types of fees and still be able to use your equity to fund additional purchases I think you should.

Simply put, there are a limited amount of PMs that will operate in the area, so I ended up with poor management.

Yes, this system does have me put in dates but then it doesn't seem to show them easily.  

They were perfectly acceptable 20 years ago, but now many areas are limited to one guest per calendar month. 

Our real goal is to refi the homes before we come close to the due date and pay them off early. 

-Limits placed on the number of people that can be in the residence at any one time (i.e., no parties, gatherings or additional overnight guests).

Each unused lock/deadbolt gets stored in a freezer bag with date and unit the lock was last used on -- so we do not inadvertently place the same lock on the same unit.   

Credit cards have the same limitation on the amount you can borrow and will likely end up costing more than private lenders.