Take yourself out of this equation and let this guy move on.

Not wanting to tap into my places equate, I recently took cash from my 401k to invest in downtown Chicago.

You can't match the per door price of MF, nor the economy of scale, and if you are able to re-position the asset you can enjoy forced appreciation which can kick in faster than market growth would, and you have better cash flow along the way.Today the barriers to entry are higher with MF over 5 units; higher DP, higher reserves, net worth requirement, more expensive money all tilt the equation and raise the bar for entry into MF.

I’m not sure what expenses you have factored into the NOI equation but that plays a major part in the equation also.Honestly, a property of that size can be supplemented through the use of technology.

Some landlords use a mathematical equation, called RUBS, to bill based on the size of the unit or other factors, this is just as inaccurate and down right illegal in a lot of places. 

I can't think of any other reason for that, except they expect that to be difficult = PITA.Maybe not, but in my life experience, you're way better off to deduct the reason is because the tenant is a PITA than some benign reason that equates to the tenant not being a PITA...And to anyone who is tempted to say something like, "Well, maybe the tenant is great, but the seller has cancer or whatever ----- my answer is, really?  

So what is the risk of a $210K mortgage equal to in this equation?

And if landlords are limiting dogs to under so many pounds, and they have problems, maybe they are equating the size of the dog to the problem?  

I'd definitely forget about the $300 that you feel they owe you- I'd consider it payment for the education and remove the emotion from the equation.

In many jurisdictions, this would equate to surrendering possession of the unit.Ideally, you want to cross paths with them and have them sign a "return of possession" document.