If you charge $10 daily fee starting on the 5th and the tenant pays on the 11th, is that $60 or $70?

(source below)I ran these numbers on my own portfolio (of 9 units, 4 properties, mostly updated with Low CapX) in Green Bay, WI and my tenants are paying on average $1.08 per SQFT and moy cost is $103 PSF. 

Do I sell and pay capital gains and dump the money into a different market or do i refi and buy something else ?

.$995 is great rent but you also don't want to evict if tenants can't pay because turnover costs can kill the ROI.Just my opinion 

I am a tax attorney and i still am confused, and I am willing to bet that most people will be putting it on schedul e, not paying se tax, not calling it passive, and deducting losses against w2 income, and playing roulette with audits.  

They typically pay too much for their deals, especially if they are wholesaling from out of state for the same reason you stated...prices are all over the place.

Oftentimes, we would work closely with CPA to make sure how our borrower's taxes can be filed that would save them from paying taxes, but also making sure they can qualify in a lender's perspective.You would want to make sure your first few deals has an acceptable of return in order to lower your DTI and expand your investment portfolio in Real Estate.

The gravy for them would be level of finish and extra amenities but they aren't going to pay substantially more. 

When you refinance for a lower rate, you'll need to pay all of your closing fees again (title, escrow, insurance, origination fees, processing fees, etc).

At which point you have 30 days to accept and pay or decline.