So kind of a geographic/labour arbitrage I guess.   

Well explained , thank you so much, I didn't know about " the non recourse lender", that's awesome , 50% of my portfolio is in 10 y arm, which by than , I will sell them or 1031 exchange, but my cash flow is greater, I do send money to the principal as well.Thank you again for the great explanation

They were just extremely efficient in a geographic location where the cost of labor and the cost of living is substantially lower. 

Julio, thank for the explanation. 

Even a few days ago apparently there was an extra $500 sitting on the table with my current rate and all the seller concessions allocated so I asked if the appraisal could be reimbursed so now I'm am confused as to why these latest numbers have me bringing ~ $1,400 more than my down payment to closing.Any advice is appreciated as I wait for an explanation from the lender. 

Happy to answer any questions and offer a more in-depth explanation of how this works and when to establish this strategy.

. - Geographical diversification is important to me - I want to avoid having all-eggs-in-one-market-basket, would appreciate advice on how big I should go in each market to balance this goal against the overhead of having too small a portfolio in each market.- We’re planning to move our primary residence over the next couple years as well — are there any concerns with getting a decent rate mortgage for our personal home if we get a bunch of rental property mortgages in the meantime?

If they are scattered units across a geographic area, the answer is probably none.

You need an explanation from your PM.

Although the clients were satisfied with the answers we gave them during the consultation, I thought it was essential to create a repository of explanations on why choosing a real estate agent is always better.