I used to live in the lower mainland but invested where the numbers work like Vancouver Island or Northern BC.

So the lower the interest rate on the subject to loan, and the higher the prevailing rate, the more chance that a lender will initiate action.   

There's a few different ways to focus on a lower rate such as with house hacking and making the investment your primary residence, requesting a significant closing credit from the sellers for standard rate buy-downs (which I've had great success with recently), or utilizing lenders who offer short term rate lowering solutions such as 2-1 rate buy downs (again, ideally paid for by the sellers).

Right now they are "high" (compared to 2020) and people "think" they are going lower. 

If I have lump-sum free cash, should I just apply it to my mortgage to recast so that my monthly goes lower?

On houses below $200k, the 70% rule gives you too low of a profit - you need to lower it the lower you go (ie a $100k ARV would probably be a 60% rule).

Shouldn’t it be at a lower multiple?”

Without new companies creating similar-paying replacement jobs, workers may have to settle for lower-paying service sector positions.

Would the IRS allow them to benefit from a 1031 Exchange if they would be "swapping" a million-dollar rental for one that is much lower in price?

Boot includes any cash retained or the difference if the replacement property is of lower value than the relinquished property.