That has a lot of value. 

10*40k properties @400k total is a lot different than 10*400k @4MM value 

I value his opinion and ask it frequently because he has about 35 years of experience in contracting and management.

I'm going with 2 sentences...Tax benefits are secondary to the value of the investment...The large percentage of wealth held in retirement accounts is particularly notable given the tax advantages these vehicles offer.

  - 2 of 5 year rule on owner occupied allows gains (to a limit) being exempt from gains tax- accelerated depreciation (cost segregation) can further allow writing off the depreciation- this to me is the most crazy of all, at death property value is rebaseline with all gains being forgiven to the heirs.  

The property is actually worth much more now than it was when I owned the business because the lease has tremendous value.

This will increase the value before you refinance. 

The estimated value of my house which includes 5.5 acres is $350k.

I’m in the process of buying my first turn key property as opposed to the value add ones I usually buy.

The elevated value stems from experienced operators who are on a similar level interacting and bouncing ideas off of each other.