They can be convenient to do (one loan versus 5 in this example) and save on processing costs (versus an individual loan).

And mark these mother-truckers up, they are paying for the convenience... providing you aren't somehow preventing them from buying the stuff themselves beforehand (the way movie theaters do), it's not at all immoral. 

It's a convenient way to grow your portfolio too.Like you mentioned, don't bank on mortgage rates falling much.

We wanted to still be able to stay at our house when we are in town for convenience sake.

One has been newly built and both are on opposite ends of town which makes it more convenient.

Its a little less convenient but they DO charge an additional monthly fee for the gate control service and I just don't see enough value in it to change everything over.

The hippest neighborhood in your town will likely have a lower ROI than one that is more convenient and less expensive to aquire.

What I can tell you is that it is easy to latch on to a tenant out of convenience factors (bird in hand).  

But it looks like it could be more convenient.

It might help you out of a tough situation, but you are giving up a lot for the convenience.