I have other houses in a different state that I only insure for the slightly over the value because it simply does not pay to build new in that area.

If you can meet the emotional need being manifested, you will likely find the actual complaint melts away.I would recommend that you talk to her and let her spill every drop of her negative emotion.

I only know from the 1031 side of things. 

It’s the negative cash flow properties where the pressure builds on the seller to sell at market pricing.Also, for a number of reasons demand and supply are out of whack in the home market right now.

The yields have ranged from negative to 50%+. 

The negative cash flow is really what sinks it for me.

I haven't read all the responses, but think of cap rates like bond yields, and then recall that there are people that buy bonds with negative interest rates because they can lock in their losses.In that environment, a 4.5% cap rate is incredible.

For example, am I only able to have 10 mortgages if I JV with my girlfriend or could I have 20 mortgages?

I know cash flow is king and it kind of messes with your head when your barely breaking even or even in the negative on a property but If your a buy and hold who has 20 to 30 years in the game like I do, who really wins in the end the cashflow team or the appreciation team. 

@Rob LeeHello Rob, don't mean to hijack the thread but I'm in tx looking at my first single family home for my first investment Trying to stay under 250k preferably around 200 but even then I've been looking and searching on MLS, zillow, realtor, running the numbers and hardly anything cashflows, I'm taking cap-Ex,vacancies,maintenance,management,taxes mortgage insurance since I'll be using fha into account and I surely endup with either small cashflow or negative cashflow 1 out of 100 properties brings me at most 100 in cashflow, there's hardly any homes!