I would cash-out refi or even sell and do a 1031 exchange so that I could buy a couple properties and start the depreciation cycle fresh with those.

I would happily spend the extra couple thousand dollars to avoid this.

I have had a tenant in the past who vacated the property with a 30 day notice, but couple months prior to their lease expiration.

Sounds like you are more than a couple steps ahead of the game!

-Developing (or buying) comprehensive lease template, building relationship with Real Estate Attorney.Haha I actually posted this same question on BP and was given a couple real estate attorney referrals out her in UT. 

I did get a couple of calls each time I did that routine. 

I'm not saying there isn't a purple unicorn out there somewhere, but not in any established investment market...I haven't read that piece in a couple years...how'd you get the 50% CoC?

I came across a couple in an area that I was already looking to buy. 

This is mostly for tax reasons, but every couple of months I do a long hard look at inverting these numbers.

It sold in a couple days.