I'm a huge believer in rental properties and passive income, as a vehicle to achieve financial independence. 

I am rehabbing a 15 unit right now and when I first bought it my initial thought was to get everyone out so I could rehab at will and not have to worry about noise, trucks, complaints, vehicles in the way etc. 

The first 2 steps in our process with any client is to (1) first determine the clients goals and objectives for the investment (i.e. additional cash flow, retirement vehicle, wealth building, etc.) and then (2) secondly to explain the market in which we invest - explicitly.I would recommend that you start by defining the goal of your investment before doing anything else.

And personal debt against anything that is depreciable (i.e. a vehicle) should be dealt with, if possible.   

:P ).Con: Easy to become dependent on this incredibly non-diversified vehicle.

It take a great deal of study and self education to invest in any vehicle especially real estate.

If you dont deplete your retirement accounts, what percentage of your portfolio is real estate investments (in all forms), retirement accounts and/or other vehicles?

This is a completely separate financial vehicle and isn't directly affected by the overnight rate or prime rate.

Additionally, someone's car was shot up on New Year's (I think that was a vehicle just chosen at random).Prior to selling, she had spoken with my PM (and boss) regarding possible rents vs. selling.  

Find some other investment vehicles.