In STR common markets like Gatlinburg this naturally adjusts itself as most homes are STRs so the entire market lifts to meet their cap rates, and they appraise on those cap rates in spirit, even if not technically. 

My current rate is on an adjustable at 9.5% ...Ouch.

DougI agree - The net worth threshold for an accredited investor has remained at $1 million since 1982, and has not been adjusted for inflation.

If you want to do it all manually in a spreadsheet, you can definitely save about $30 a month here but how much is your time worth as well? 

Adjust your strategy and/or your team as you go along.hope that helps..

and run a few scenario's then adjust accordingly.

Moreover, if you sell or the tenants want to move and their rents are well below market - they might be in for a shock/lifestyle adjustment/unable to afford current market rents.

Also to risk adjust the returns.  

But what difference does it make if the leveraged portfolio earns an insufficient risk adjusted return?

We plan to go the most cost-effective route initially, and then adjust later as we build more experience/reserves.Thanks again for all the great feedback!