You have to look at the big picture.

Two houses appreciating long term is likely a better ROI than the cash flow from the one property would be.

You came to the right place, Brad! 

Good mindset stuff at the start an great underwriting education at the end.

Cash out re-fi's are very difficult given the economy and the fact it has been an election year.

@Scott Ray the way you have structured the investment eliminates double taxation situation, but as as a Canadian resident you are required to report the income here in Canada.

Quote from @Jenni Utz: You have that built-in equity on the deals that are off-market.

Quote from @Elliot Rosen: Use a licensed and bonded foundation company and keep the invoices, and disclose it to the buyer.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

It's possible to find cheaper options but make sure you evaluate the coverages offered.