But what about the investor who is tired of paying hidden fees in their Reit - stocks etc.

Just like the stock market, my buying is a contrarian indicator that should signal a great time to sell or go short. 

Running up to the closing they will let the stock run down to next to nothing with bare shelves and such.

I put in at least 15 offers and all were rejected.I became so discouraged that I talked to my husband about either a) giving up on RE and investing our available cash in the stock market or b) settling for a lesser return than we had in the past.

Short of a complete collapse of the US financial system, you're going to get back your principle and the exact return stated when you buy the investment.A real estate investment or a stock, OTOH, has a pretty wide range of possible returns.

We all just about agree it is better to have cash flow and the note paydown to free and clear over time, but in a circumstance where the OG poster could get another rental using no money and break even on a monthly basis, I see that as a positive.Clearly, the choice is cash flow + principle paydown, but if you can get only principle paydown for return using no money, your final return is infinite and the OG posters captial he does have could be used to concentrate on cash flow + pay-down/appreciation.

Additionally, if I can get the principle down to 200,000 I can refinance the loan and start producing cash flow from rental income.

I recently moved to the Chicagoland area and would like to invest my on-hand cash (all cash deals) in tangible real estate, already have a good allocation to stocks and bonds.

Options as in stocks, shares and markets and all that bs?

The stock market is oversold.