A car then becomes a "tech Gadget".. a pen is a gadget... 

However, if a property turns out to be a "lemon" and just keeps being more maintenance than it's worth...i do think selling is a good option (like getting rid of a car you no longer like). 

Just like buying a car and getting it financed, title is still in lenders name.

Being based in the Raleigh area and having lived in Chicago I am biased toward Raleigh area for investing. 

Since you're living in it, the worst case scenario is paying the full mortgage which hopefully you would be able to do anyway. 

I would go with your gut on which home you would rather live in.

Sometimes they live in one of the units.

However, you can use a cost segregation study to break the property into different class lives and claim more depreciation up front.

I'd take another 200K and just dedicate to my own fix and flips here in Indy.I'm a car guy and I'd take 100K and dedicate it to flipping old muscle cars which I have a history of.I'd take another 100K and put it some deals as a LP.Then us the reserves as needed

I live 100% from the income from our holdings.