Still, I am very impressed by the multifamily projects performance: the occupancy levels have not gone down, and rent collection is very high, given the circumstances.

Circumstances like not holding annual meetings for corporations, not having corporate resolutions , commingling funds, taking money out of the corporation personally without that withdrawal being either a salary or dividend, etc.  

Under what circumstances? 

@Eric Winkler I haven't reached out for a variety of reasons, maybe circumstances changed and I no longer require your services?

There's potentially a domino effect in the event of an unforeseen major expense exceeding my reserves (mainly thinking in terms of natural disasters) affecting my whole portfolio.  

David David,It completely depends on the tenants circumstances. 

Like most things in real estate, a lot depends on the circumstances of the individuals involved and not just the numbers and figures.I hope this helps explain my thoughts, and I apologize for the lack of clarity when I defined "arbitrage".

If the circumstances don't match what the borrower is claiming, the loan will likely be denied.

Then I see what they say.Normally two circumstances:1. 

Also, monitor current mortgage rates, as high rates can significantly impact your monthly payments.Your personal circumstances are also important.