All depends on your profile as to which will be the best fit. 

My thinking is to treat add-on services like an amenity, where it's included in the rate whether they use it or not.

Pre-tax returns are more about the nitty-gritty of the asset itself and will change depending on whether you’re investing all cash or using a lot of leverage.

Hi Pradeep - depending on how quickly you plan to complete the rehab, it may be worth exploring your available resources for refinancing as well.

Then interest rates went up...Long story short, it was foreclosed in the beginning of June this year resulting in a total loss to investors like myself. 

I've read other threads on the topic and it seems like the obvious answer is that it depends, as doing bi-weekly pays off your mortgage faster but means less available cash for other investments.Say we have a typical Cleveland property worth around 150K, assume the monthly PIMI is $1000 and that annual cashflow is $5000.

Typically this takes anywhere from 7-10 days dependent on the circumstances. 3.)

I had MF and saw what I thought was the peak with rising interest and cap rates.  

The cap rates appear attractive at first glance, though a thorough analysis of the local markets is essential, especially the long-term vacancy rates.

Depending on the time of year you plan on buying the closing can be much higher.