Partially because you did not rent it for an entire year but mostly because of upfront expenses: getting it ready for rent, buying furniture, electronics, and other furnishings, stocking up on initial supplies, and so on.

I was thinking about an strategy of doing Cash Out Refinicing putting that money in the stock market (distributed in ETF and some "safer" stocks) to get around a 6% anual return (estimating that low because is the "standard" average, however my current stock portafolio has a cummulative return of 66% in the last 4 years).

Good seeing you again.Hello Sir. life does get in the way at times   Almost lost my wife 3 years ago    She was truly living dead!

Not always easy to get unless you stock a couple of cords, which takes a lot of space.Propane is going to be your friend up there.

And if someone is allergic to wasp, bee, or yellow jacket stings, they can be deadly. 

What should be my stock vs real estate vs fixed income ratio?

The original poster is dead on about probates vs short sales.

Batteries go dead and you can;t get in.

Are we going to see returns that look like stock market numbers for the foreseeable future. 

Take a free an clear property, pull half of the equity out (tax free) and invest that for example in the stock market.5k-10k in monthly income after everything sounds like 20-30 units.