I equated it to a property per year simply because in the Denver area it's very difficult to find cash-flowing deals that make the investment worth it, so I figured I'd be looking at several properties to reach my financial goal. 

I simply enlightened you of the reality outside that eco-chamber.  

Lacks detail though. 

Most investors focus on what can they buy now with their available capital instead of simply what is the best investment for their capital without limitations. 

I do have a super tenant in place, but the PM company that started out great is now lacking...big time, and it's time to make a change. 

@Chris Johansen I believe the part you're missing is you are not "simply loaning him money" under the new iteration of your partnership arrangement.

As long as you specify the bank name, address, and interest rate in the lease, you're meeting the legal requirements.To avoid the hassle of having to have the tenant sign the lease twice, you can simply leave the account number blank in the lease and note that the deposit will be held in a specific account at a designated bank.

The main thing to keep in mind as a true investor is, can you simply add square footage to the main property to get the same sale price if you're planning to sell the property.

Simply sending a query can return no results if that database doesn't contain the information you are looking for.

Most simply, let's assume you do a cash out refi for $336K and the interest rate is 7.00%.