But fixing things quickly maybe keeps the tenants for an extra lease, which is worth it as well.

My question is, will it be a better decision to put 20% down on the property I purchase in order to avoid PMI; or to put 5% down and use the extra cash to potentially line my self up for another acquisition in the near future?

But, if there is a possibility of a short fall....HOA/other debts that can't be negotiated out with the bank ( the lender will only contribute a set %) you need to be prepared to pony up some extra money above and beyond the purchase price. 

I think the advice of billing them early but giving them time to get the extra money together is a good way to proceed.

If 5+ acres then what is your plan for all that extra land, and do you have the money on hand and the local regulatory environment mapped out to execute that plan?

Making extra cash on the side is always fun.

It's more conservative and while my rate may be higher and I will pay a little extra in interest over time I can still accelerate my payoff.

It just burns me up to have money sitting in mutual funds going nowhere right now and I'm feeling pressure in my 40's to get my financial situation in a better place.Anyone have any words of encouragement or caution?

Fireplace mantel (right now we have a brick face wood burning fireplace)4.

It seems like if the building burned down I could demo and rebuild a new building on it for less than half of that 1 million amount.Thanks a ton for your answers already, hopefully I will have a property under contract that I need to speak with you about in the near future :)