If Covid stays it takes down many an American institution with it including large cities, college towns, casino towns, theme park towns etc.

Currently, a 10 Year Treasury Bond is paying 1.77% and you would receive $8,850 a year on that $500,000. 

The size of the payment is somewhat irrelevant (in my opinion, and assuming you have sufficient cash flow to take care of the property).If you want to get more in depth on the cost/benefit analysis, you could use a program like excel to plan out your cash inflows and outflows, set these against a discount rate (essentially a risk-free rate of return commonly based off of 30-year treasury bonds), and determine the IRR (internal rate of return) that the refinance would yield you.I hope this helps.

The only surplus allowed is with the Treasury at the end of the day. 

3) How close to resorts, casinos, and other tourist attractions are you?

You might check out the casinos.  

Or go to the local casinos, if you just want to gamble your money away.Think.  

If you go back in history of the treasury regs and the UCC, based on a test question in finance, long, long ago, that treasury notes were legal tender to pay all debts public and private and any debt can be settled in cash.

I didn't know what we were going to do after I lost my whole paycheck at the casino....er, I mean......."

Any casinos around?