What is everyone preference regarding having the option to own a handful of properties out right verses having a much larger portfolio with the debt that comes with it?

I prefer to spend my time either working to grow my RE business of doing family stuff. 

Although maybe not your preference, you might want to consider investing in single-family homes as the numbers might work better.

LimaOne is my preferred and have 13 month terms, Aloha Capital and Wildcat Lending are a good second option.

Why would you prefer it against the other types of investment?

He prefers to buy properties with cash straight up so he doesn't have a beginning mortgage.

The areas I am targeting include : East Los Angeles (Near Whittier Blvd.) and around Pomona (preferably northern).

I want to buy a home and prefer to keep my current primary residence as a rental. 

One of the biggest reasons I prefer real estate is that the rent payments are much higher than dividends in stocks.

I personally prefer using a HELOC for the purchase and rehab as HELOC's usually have no to very little closing costs and you can borrow the exact amount you need exactly when you need it.