If their appraisal will show that you already owe less than 80% of its current value, why wouldn't they remove the PMI (without you artificially paying for extra equity)? 

The level of intelligence in that town seems significantly lower than the remainder of the state.

Great question: to answer it we need to understand or make an intelligent guess who are the investors: If I were to say equity yield chasers  - Florida and Texas. 

However, instead of reading and comprehending my original post at the same time, you acted with your emotions and because you don't have any emotional intelligence...You jumped the gun.

So, it's best to consult your attorney if you're working in an area where the law is gray so you can intelligently weigh the risks.

There has been a recent trend artificially inflated sold prices.  

No intelligent  landlord would choose to keep a tenant they will need to evict more than once.

I know some landlords rent to tenants that make more money than them, particularly with higher end properties...however, are they more financially intelligent?

We do our own preliminary research/due diligence so we can make an intelligent offer for that note.  

I would expect no less of intelligent prospective renters.Over here on the left coast, anything longer than a 1 year lease is nearly unheard of, so I too am not surprised if they want to keep it to a year.