That said having no debt on a property can be less risky, it just depends on your goals and risk tolerance.

It depends on your tolerance and risk level. 

I don't deal with rookie buyers, I don't have the patience nor the risk tolerance.

Since, currently its about "even"I think which is "more beneficial" is more attributable to your investment strategy and risk tolerance. 

He's also a proven multifamily owner but as you say his deal structure would be a factor or two above my personal risk tolerance.

To help with my financing and for my own personal risk tolerance I have decided that I would like to switch the tenants over to a year long lease in writing.

In spite of the positives I mentioned about Mexico, it should be clear to everyone that investing in real estate in Mexico is riskier than investing in real estate in the US, except when the US is in the middle of the housing bubble.Mind you, depending on your risk tolerance, this is not necessarily a bad thing because with a higher risk comes a higher return.

I will certainly make a strong attempt to 'hack' the investor systems, although I'm having a tough go of it with trying to maintain tolerable performance in my W-2 job.

And different lenders have different levels of risk tolerance.

This savings amounts to approximately 1.5 million acre-feet of water over the next nine months, or nearly as much as is currently in Lake Oroville.To save more water now, the order will also:-Replace 50 million square feet of lawns throughout the state with drought tolerant landscaping in partnership with local governments;-Direct the creation of a temporary, statewide consumer rebate program to replace old appliances with more water and energy efficient models;-Require campuses, golf courses, cemeteries and other large landscapes to make significant cuts in water use; and-Prohibit new homes and developments from irrigating with potable water unless water-efficient drip irrigation systems are used, and ban watering of ornamental grass on public street medians.