@Joseph Agins
The YoY inflation rate for July CPI figures was 5.4%. The fed tells us this is transitory but the supply chain disruptions and reluctance of people going back to work probably means elevated inflation (over 3% annually) likely stays with us for another year or two.
Higher fixed-rate leverage on your properties with this type of inflation gives you higher returns in the long run, assuming the values of your properties rise with inflation and you're cashflow positive. For example:
Property is worth $100k, you take out a mortgage for $75k, and you see 3% inflation over the course of a year. Your property is worth $103k, you owe $75k (forget principle pay down for a minute), and you now have $28k equity. Your nominal equity just grew 12%, but that total value is worth 3% less due to inflation, so your real return is 8.7%. Debt servicing costs were covered by your tenants.
That's an 8.7% growth in equity without any appreciation, principle pay down, cashflow from higher rents, etc. purely because you're leveraged.
Debt is cheap right now. Take out as much as you can, leverage to the gills, and go diversify into securities or cryptocurrency.