Moreover, it allows you to set the terms of the lease agreement according to your preferences, which can help prevent misunderstandings and disputes in the future. 

Generally, lenders base their refinance valuations on the property’s in-place income and existing condition, not future projections.

I don't think the future will be kind to the investors who bought cheap houses in a big community of other investors. 

Also, if you have a below market interest note, if you wanted to sell that note for any reason in the future for liquidity you would be affecting the value of that note negatively.

Basing insurance price on past losses does not adequately compensate for the future risk which is higher.  

It avoids having to pay the capital gains and lets the property keep appreciating while you still own it and reap those future rewards and more cash-flow from the property in the meantime.  

Would love to hear what you’ve got planned for the future.

We are looking to building some fourplexes in the near future in the area - when you say expand your portfolio - what are you looking for ?

Quote from @Rose White: When is the best time to ask your new / possible future tenant for a background check?

Would the 9-year balloon concern you, knowing you'd need to refinance or pay off the balance at potentially higher market rates in the future?