We regularly get 50% cash on cash ROI's and we have done multiple deals this year where we get Infinite Cash on Cash ROI because we refinance out more than we put in after we do a major rehab on a multi-family building. 

REI is a huge probability density function with infinite possible outcomes, some more probable than others, and you need to be able to pursue strategies that could work for multiple positive outcomes.You will want to optimize everything to the nth degree when in reality you are operating in a highly constrained sub-optimization environmentYou will tend to develop elaborate models, and believe what they tell you with certainty when in reality many things are not known or knowable because there are just too many variables at playRE is a people business.

He's top shelf, very competent, high quality and will step in and do "the right thing".  

Cash is infinitely versatile.Tax-wise, paying the principal down and recasting will be nearly identical.

I live and rent in Manhattan, and for the first time in 20 years there are a few vacancies in my building . however , in upstate New York , where I invest , homes are flying off the shelf - people are bidding above asking.

This then becomes a security which must be registered and is infinitely more complicated and more expensive.

You seem infinitely more prepared for your first investment property than I was.

This would leave you with $0 invested in the property since you pulled all your cash back out and theoretical infinite returns. 

I agree SFH are the worst, unless you buy them in getto for 12k for cash and cash flow $500/month and they pay for themselves in 2 years and then your return is infinite.

There will always be another bus, but the opportunity to finish what you started is infinitely more valuable - not only to REI, but to your life in its entirety.