Any waiver of late charges under this paragraph will not affect or diminish any other right or remedy Landlord may exercise for Tenant's failure to timely pay rent.

Like Alvin said, there's a point of diminishing returns with trying to calculate all of it out, and actual cap ex expenditures happen based on real life, not your estimate, so it's mostly down to how much precision you need to feel comfortable.

Learn how to use it in a way that diminishes the cost impact.  

Also, a little prudence, like you exercised by not walking around at night, greatly diminished that probability. 

Any cash beyond the minimum required to acquire that leverage is not invested since the end result is diminished return on investment. 

It is in the idea stage and am looking for input of what metrics to track.I do not have any answers, only questions.Your data is going to be the first variable and will diminish in value with age. 

With $40k down, my monthly cashflow increases (less mortgage) but my annualized return diminishes (more equity invested).

You say the property would be diminished if the garage had to be removed.

Bare in mind, that any advances made by the prior mortgage/deed of trust owner would contribute to the total cost which would diminish your expense on the matter.If for some reason there is some serious title problems and the other liens fight claiming they have a position superior to you, it may become more costly to defend.

No question.There are good reasons to use leverage in some situations but, it is not a one size fits all tool.And using leverage ALWAYS increases your overall risk.As to the increase in cash-on-cash returns, no one seems to take into account the effort and additional overhead expense in handling more properties.In the example given in this thread, you have doubled your effort needed and increased your overhead expenses for a rather small increase in the cash-on-cash return of your $50K.Extensively using leverage and adding more and more properties reaches a point of diminishing returns very quickly.