Well I can now confirm that it is possible to make really decent money running level 4 missions. Not only that but it's way more fun than mining. You can really fly through the missions by having your fleet all help the single character of your choice. It's not nearly as much money per character as someone running level 4's themself but it is a far superior alternative to ratting for multiboxers because there's plenty to kill on missions and when they have bounty it's very profitable. I currently only loot what's in range of tractor beams and don't salvage but if I wanted to make a little extra I could really focus on trying to mulitask all of that.
Don't mess with wormholes. They may be profitable but the pain in the ass isn't worth it. I had half a fleet stuck in w-space for a few scary hours waiting for a new wormhole to spawn because wormholes like to collapse when you move a lot of mass through them. I ended up 23 jumps away from my original location luckily they were high sec jumps though.
I'll be trying level 5's soon but I don't have my hopes up due to the extra dangers involved in low sec screwing up the risk/reward ratio.
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