@Wendy Gomez:You are learning a super important lesson about leverage and liquidity early in your investing career.You have 3 homes purchased for total all-in cost of $110k and are receiving $650*3*12 = $23,400 per year in rent.  

Feel free to hit me up on e-mail or this forum anytime. 

Fannie/Freddie provides a place to liquidate your loan and get your money back to make more loans and free up the banks capital.

However, if a determined tenant could display that you were charging them more rent for a duplicate property, for no justifiable business reason (rents went up after lease expiration, building taxes, etc), than another tenant, they could probably come up with a protected class reason that you were violating - race, age, family status, etc, and then you would be forced to use your "pain in the ***" logic in court to defend the differential.So I would say you should probably not proceed down that road, and if you do, I would probably delete this thread. 

What happens to the supply/demand balance if they have to liquidate their real estate portfolios?...

It's a good mix of rentals and owner occupied, there's a little crime in the area, but nothing like the E 10th - E 14th west of Minnesota area. 

Did u make $5k in liquid profit & a passive income property?

If you live on the coasts, you might consider diversifying into the Midwest in areas don't crash as hard as the coasts.3) Liquid assets such as cash, cash equivalents, cash value in a whole life policy (if you can find the right one  in a non-direct recognition mutual insurance company), gold buried in a ditch, and tax lien certificates.

There are other concerns too though besides "wouldn't it be cool to do this, avoid some taxes, and use this pot of money I inherited" such as valuation and liquidity.

We do not have a huge amount of liquid assets though.I have started reading about master leases and small business financing.