I could watch my property values drop to the point where my debt on properties was higher than my values (upside down), and because I had bought with such high cash flow (which actually grew), it didn't matter.  

Also, if I am living in one of my properties, and work is being done on my residence, does that matter. 

Part will depend on the price range you're buying and selling....under $200k they're earning their money....under $100k, you need to pay me extra, no matter how many you do.  

I am also a professional in the financial services industry, advising large real estate development clients on various insurance and risk management related matters. 

You're missing my point.  3-5, or 3 - 500, it doesn't matter...and isn't important...and if it only makes cents, it doesn't make sense...it has to make dollars.

I'm fairly sure that people have, but I'm not certain since I haven't bought one myself or sold one for that matter.  

As far as seeing rental income, if you own the house cash and don't depend on the rental income as part of your application income, it really won't matter if you show it or not, and there are different rules when they will consider it income; my bank goes from your tax return, so if you don't demonstrate rental income on your federal 1040 it doesn't exist. 

Anybody out there have any recommendations for a reasonable, responsive attorney to handle this matter?

Messy walls don't matter because you'd paint anyway when they move.  

The property was €260,000 and offered €230,000.My simple question is this, I don't want to use any of my own money, over here cash or loan, it doesn't matter.