When the property market tumbles (if it does), I'm in a position to scoop up a bargain.

You really are not in that bad of a position.

. $1000 rent on a $180K property will never produce true positive cash flow.  

Investor spends money on real estate, expecting a positive return

In such a positive way lol !!

Then you just have to repeat the process 3 or 4 more times on 4plexs with positive cashflow.On the last property that you refinance take the refinanced money and throw 5500 per year in a TFSA  and use that to invest in some preferred shares of a company that declares dividends quarterly and earn an 8% return tax free if you invest from your TFSA.

Lakes, colleges, etc.Now everyone will have a different take, and mine may not even be the best but if I was in your position I would do these things.1.

The two things required for that are 1) enough distressed inventory to sustain it and 2) price ability that allows for positive cash flow on the properties.

The way I see it is that MIRR accounts for IRR's two short-comings: 1) potentially having multiple solutions when the cash flow from the investment goes from positive to negative and vice-versa, and 2) assuming that you can reinvest your positive cash flow from the investment at the same rate of return you expect your investment to make (the IRR).

@Diogo Alves, genuine positive cashflow in Auckland is gone.