Anything 5+ units uses the income approach and not the comparable sales approach for weighting of the value of a property.

How much weight do you put on experience related to property rentals?

The entire conversation was pretty much him pushing his weight around and not really being understanding or interested with my thoughts and concerns at all.

The property will carry most of the weight but usually a 5 units property is not big enough to stand on its own. 

I think what's important is not to dismiss one investment mechanism over the other, rather weight in both: pros and cons of each, and then evaluate each investment separately.

It'll be like a weight off your shoulders. 

A good realtor is worth their weight in gold, but an average realtor may just slow you down.

Do signed waivers hold any weight?

@Melanie Stephens,One lesson I've learned, is your maintenance/handyman is worth their weight in gold as they are your eyes and ears.   

value depends on whos perception you want to consider because its different for each:- appraisal value - how appraisers will determine value for the purposes of obtaining a conventional loan on a fourunit is mostly weighed towards comparable approach in my experience even though the appraisers notes say "most weight was given towards income approach," Ive seen this hundreds of times- subjective value to you as an investor - each investor has their own criteria similar to what others have mentioned above regarding how "they," look at a value- banks underwriting value - may differ from appraisal value if dealing with local portfolio or commercial lender as they use different metrics to adjust appraisal value or listing price to lend only up to their version of "value,"- Market/selling value what the market will actually contract at for that given property, sometimes guessed by realtors as a BPO or broker price opinion.