I think what would best suit our risk tolerance is handling a mortgage where we didn't necessarily need to rent out anything, yet have the ability to rent to reduce our cost of living.   

However, if you don’t have reserves and are tight on cash flow, it’s likely best to just sell and get into something that better suits your investment style.

As Warren Buffet says a rising tide lifts all boats but when that tide retreats you see who is swimming naked. 

The developer did a build to suit for us, putting up a building for which we signed a 5 year lease with 2 5 year option at $3500 per month with $500 per month increase on option 1 and $1000 on option 2.  

It's your job to know the role of the game pieces and position them on the board in a way that most suits your bottom line. 

Here are some and considerationsTo select the neighborhood that best suits your requirements and tastes, investigate the individual neighborhoods within each area.If you currently have children or want to have children in the future, research school districts.Because traffic and transportation infrastructure might differ, take into consideration your preferred method of transportation.It might be beneficial to visit each location, look about communities, and get a sense of the neighborhood before making a selection.

I would imagine that the tenant either paid up or reached an agreement to move out in exchange for the owner dismissing the suit

Personally, I like the all-in-one units but they are expensive and poorly suited for larger units where it will take forever to get a load of laundry done (since you can't move the clothes from the washer to the dryer).

If you feel that interest rates are likely to drop, property values are not likely to follow suit.

Great write up, choose your poison, but different products are suited to different situations!