Your analysis of how long it would take for the cash flow to equal the refinanced $113k is exactly how to look at this...but you stopped there. 

Pay down all the loans equally? 

So most sellers want a 'DDF' equal to a month of mortgage payment, that way it helps cover his costs if you back out for no apparent reason.If you KNOW the house is paid in full...

-Offer to Partner with him(50/50 equality) and do all the work(rehab and find tenant)Could I get some advice from my Bigger Pocket Community.

So if taxes in the offering memorandum say "$8,000" and then it sells, and the taxes go to $16,000 it means that on a 6-unit building you'd have to somehow recuperate that additional $8,000 (or on a 6 flat it would be $8,000/12 months/6 units = $111 increase in rent, just to pay for the new taxes to equal the return you thought you were getting before!

If you use a broker they get paid based on which loan you go with and some loans pay more than others so a broker may steer you in a direction that might not be the most optimal for your business plan.Rule of thumb for commercial loans is your net worth has to equal the loan amount and your liquidity needs to be 10% of loan amount.

Not all MFHs are created equally.

Internal Revenue Code, which allows you to avoid paying capital gains taxes when you sell an investment property and reinvest the proceeds from the sale within certain time limits in a property or properties of like kind and equal or greater value.The Role of Qualified IntermediariesUnder section 1031, any proceeds received from the sale of a property remain taxable.

No more than 4 beds cause people equal wear and tear.

So, assuming equal leverage and tax implications, what are the benefits of owning physical property vs.