I focus a huge amount of time on tenant screening and providing exceptional property management/customer service.

Now as a Banker I understand you will have a shorter pay off but you also have to take into consideration market declines.If the market declines in any way or if your area suddenly gets hit with a higher than normal foreclosure/short sale values can drop.

Is it 5 years from the date of sale?

You have a net sale of $10M.

This can be a problem if you wait to get your new property under contract after the closing of your sale.   

I completely remodeled my own home after the flooding (28K gallons into house).

After some rentals, flips and wholesale deals I landed on private money lending.

After the renovation is complete - you can either sell the property or refinance it into a long term DSCR (debt service coverage ratio) loan.

If they fail and it requires a service call, that's also their responsibility.Give all your tenants a written notice that is clear about their responsibilities.

Pay cash and then after 6-9 months do cash out refinance. - in this case, I will have more time to shop around for better loan terms/rates etc.