If you are buying to hold for rental income, then do you care if the property value goes up or down while it is producing income?  

My definition is an income property, that produce income.

The purchase price including rehab is under 100k in gentrifying neighborhoods and they should produce great cash flow.

It's tangible and if you maintain it well, it produces income for generations.  

Here are few ways I thought of:a) Purchase 3 properties in mid-west, about $70~90k each would produce maybe $600-800 / month rent.b) Purchase 2 properties somewhere (I don't know), preperable in A, or B class neighborhood, each cost $100~$125k, and can produce $1000+ / month rent.c) Purchase a property near my cousin's backyard, which may cost $400k+ and can get $2000 / month rent.

Because of background in contracting, a hot market, and our hustle each flip produced very good profits.

QuickBooks should be able to produce the income statement, statement of cash flows and balance sheets.

Specifically multi family is valued off the income it produces, where 1-4 units are valued based off of comparable sales in the area. 

Option 1 seems good because the loan pay down alone is 15 years faster, but ob,y produces $200/mo cash flow.

I have a portfolio of about 20 individual rental income producing properties (some SFH, townhomes, and a couple condos).....