By the time you pay all the fees and taxes and don't forget all the losses the person that invested their money in the Indexed universal life policy will have more money for retirement then the person with the same amount in the 401k.

On the 4 plex, we paid $295K in early 2016, and focused on lease loss as the primary value add.  

-Like you said, better cap rates, at least on paper.Cons:-I remember reading about IBM shutting down, which probably meant the loss of a lot of jobs.

If I include the income statement it shows the property at a loss because depreciation is factored in.  

If you refinance and pull out cash, your profit will go down, lets say it goes to $300/mo after refinance, then it's 16 months to recoup the losses above.So, my advice, save 12 months of management, vacancy and repairs (~10K), then think about refinancing.

In the case of a verbal lease, well then it's your word against the tenant's.I'd highly recommend seeking the input of a real estate attorney, but if you're using a FAR-BAR lease, the newer version makes it clear that the tenant is responsible for the entire lease amount, unless the property owner allows for a buy-out (typically two months advance rent to cancel plus loss of security deposit).

When I go to the city for an answer on something with development unless it is in writing I do not put weight on it.

@Asim Alam if you are insuring for a total loss, the policies max payout is purchase price plus your additional investment.  

.- One that provides great reports of profit/loss and any invoices coming in and out- One that can handle 70 properties but can grow with you. 60 of the properties are residential homes but about 10 are multi-family (need to be setup little differently because of shared utilities/space) and couple of commerical ones.Would love to hear your thoughts especially from those who can relate or have used any of these.

This is one of the MAIN reasons I posted this thread, because like say a RE agent targeting the 'higher end,' I would prefer working with 'professionals,' who are either 'relocating,' or perhaps had a divorce, job loss and/ or BK filing... but now have good cashflow and a great job, or successful business venture... vs. people 'wishfully thinking' that will ultimately LOOSE their down payment,' the majority of the time.