@Carmelo Lopez Great topic, everyone loves to speculate especially about something they are worried about.I'm late to the party, but just to emphasize a few points I loved from others...

One thing they emphasize is that  the people who had the balls to publicly complain where ostracized by other owners because they would adversely affect resale value if everyone knew what a disaster they were.So when an investor in NYC says, "move along, nothing to see here... everything is back to normal..."

Public health experts have also emphasized that the potential benefit of wearing a face covering is not for your own protection but to safeguard others around you.

After refi....you'd have $534k equity in $2,136,000 of real estate....and your $200k cash back in hand.....then repeat for cycle 3,4,5....Other posts have emphasized the leverage is helping you grow faster, and there are taxable income differences if you have deductible loan interest.Now, what if your local market experiences a few percent of appreciation per year?

if you listen to recent BP podcasts, David Greene has really started to emphasize this.

When I was a bunch younger I went to college, not that is mandatory, and I got a business degree that emphasized real estate.  

Still have it, and one important lesson that may not be emphasized enough in this thread is a great property manager will make or break you, especially with an out-of-state rental. 

When you personalize it and make it known you are local, you de-emphasize the hard-sell.

I know when he initially rented from me, he emphasized he wanted to stay for all four years. 

Even though I have a good lease based off the Texas laws, some of the points that you guys have made will be incorporated into all of my leases and emphasized to the tenant during our in brief.