Now that the original loan was at 3% and their new loan rate is 8%, on a $500K loan that nets them about $25K more in interest per year the odds of calling are dramatically higher. 

In Florida, my counteroffers since Friday have dramatically went down from 60-70 counteroffers to around 15-17.

I remember one street where an investor bought every house and did a dramatic transformation.

Perhaps dramatically if you end up walking away.

The market may well have fallen dramatically since you bought it or even since you first listed it.Based on your numbers, I think you bought houses for around $150K, and put down 30K (20%).

However, we have experienced a dramatic increase in folks walking away from previous seller financed deals, and evictions are at an all time high for us.

So whoever tunes in to this  - Happy Thanksgiving and here's a couple things to think about when comparing the relative benefits of a cash out refi and a 1031.Cash out Pro - You don't have to sell a good rentalCon - You're stuck with loan origination fees and the pressure to hang on to a not so good rental.Pro - You get cash to use in any way tax freeCon - You only get a % of the equityPro - No time limits or use limitsCon - Interest cost on your own equityPro - relatively easy to  refi for the first few new purchasesCon - the loss of use of 100% of equity means that the BRRR slows down dramatically while waiting on appreciation or equity build.1031Pro - Ability to dump a bad rental without tax consequencesCon - requires selling a potentially good property to free up equityPro - Low cost compared to refinanceCon - rigid rules and time linesPro - Access to 100% of equity for next purchases including the deferred taxCon - Less liquid than a refinance Pro - Money to reinvest in real estate with no tax dueCon - Any money to you personally gets taxedThe right answer is different for every person in every situation.  

These rents have risen dramatically, yet PBS never writes a single story on this fact.

But even more importantly is to study the ebb and flow history of the park.I would go back to its beginning if possible and do trend histories and area demographics before doing anything and you can usually do that with a Google search from the comforts and confines of your humble abode.What I've come to realize in just the past few years is the increasing number of blighted MHP Communities that are no longer in the "PATH OF PROGRESS" and have dramatically declined SOCIO-ECONOMICALLY as a result. 

(ie would he have to actually own this house until current market value catches up or something dramatic happens where he can't make the payments??)