One i have it for 2 yrs and 1 yr for another.

Maybe you get really aggressive and try to pay it off in 15 yrs, right when it's time to retire.You are right the interest rates going up and the Fed has indicated that they will continue to do so.

I would much rather get properties via a 3yr contract with right to extend 99 yrs!

Pretend your 24 yrs old again.

Central air would be a huge upgrade, and would probably allow you to raise rents.As far as a refi, if loan is over a million, you can go to Freddie and get some great terms, 30 yr amort, 4.5% rate, 10 yr term, 3 yrs I/O.This is the classic refi & roll.

Are we not worried that the value of these properties will drop more than the amount paid down on the loan in say 5-10 yrs?

My darling agent has told me that I have run into things that she has never seen in 20 yrs as an agent but at this point I deserve the house.

I've lived in and invested Fresno for 17 yrs now and I'm basing the utilities on my own typical multifamily  bills at $60 / unit and the same with insurance at $75/ unit Fresno. 

While I intend to use 51% or more for my business, I would like to know (from those who have experience with this type of loan) what happens if in 4 yrs I reduce my occupancy to say 40% (due to change in business needs). 

I retired 20 yrs. ago with passive income from a Retail Center in Reno and Apartments in Fallon Nv.