If your ratio is bad, you will not easily get a loan if and when a good buying opportunity comes along. 

Mike MI tend to lose people when I type, so I might not have made it clear, that is my bad. 

We have a 4-plex in commerce city, colorado (80022) that we purchased in 2015. I tried to cash out refi this year but the appraisal didn't work out. I'm hoping that someone could point me to a lender that will use a g...

There are exceptions as some Turnkey outfits are not bad, but there is a difference for sure.I have two out of state "Turnkey-type" investments (one an individually owned property, same for the other except in a self-directed IRA).

Jay Hinrichs points out in podcast 222 that one should pay off their properties sooner than later, in case something unforeseen/bad happens, you have multiple (good) exit strategies.You can still leverage your properties - you can get a HELOC (actually there is no such thing for investment properties, it's called portfolio line of credit or asset based LOC) and you'll be able to use it in case the need appears, without paying interest all the time.Let me know the conclusion you reach.

Not saying the deal is bad, maybe the guy doesn't want to, or can't finish the project (sometimes these are the best deals). 

A surplus could be good because they're spending less or it could be bad because the HOA is neglecting some of the necessities. 

Being cash you can save a bunch of money on insurance and the companies won’t hassle you over stupid petty stuff as bad as if it was mortgaged

If you have a high end rental, you'll have more deposit and tenants will be concerned about having bad credit and won't likely just take off and leave you hanging with repainting. 

Wouldn't be a bad idea to buy some land close to the interstate and sit on it for a few years if you have the means.