Now to go full circle, the truth is that the supply did not just randomly jump, the rising intrest rates have pushed buyers out of the market resulting in a surplus of inventory. 

One slice pays the mortgage broker, one slice discounts the rate for the borrower, and one slice is surplus profit for the lender. 

Yes, I would have pocketed a few grand, but my rent would for sure have been higher (I was getting quite the deal, IMO, as a renter), so that surplus would have slowly gone to new rent anyways.So in short, starting at $20k isn't *that* crazy, all things considered.

When you arbitrage, you give up the surplus you receive from managing it yourself in exchange for a more passive business.

@Laura WilliamsI am curious why you don't pay down the principal and pay them off.Refinancing to 30 year makes no sense as you start over paying interest only.Take some of your surplus income and pay off the properties and turn all of that into positive cashflow.

Thanks for your polite response and advice.I found out through a local realtor that there's a surplus of condos on campus, so they're looking like a bad investment right now.

A political economy  of poverty operates within these various corners of the mobile home park empire, where the needs of residents and the insecurity of their housing tenure offer sites for interested parties to extract surplus value."  

There is no fundamental difference between whole life and IUL except in the way the cash value is credited with the surplus.

I've even won closing costs for my buyers after a surplus appraisal in a competitive situation.  

@Daniel Villa lopez in many areas collecting fees for helping collect tax lien surplus funds is considered predatory.