If rates are too high, we just refi the existing loan, and wait for a better rate environment.    

This set the stage for other cities to follow suit.That is why we see Airbnb's advertising pivot to unique stays in non-urban environments.

There's good fishing in the creek too.The last appraisal done recently was just over $900k... we're looking to come in quite a bit under that. 

I'm not a fan of variable interest rates in a rising interest rate environment. 

I am not knocking you here, just pointing out the fact that when you go to a private/hard money lender currently, you're asking for hundreds of thousands of dollars in a recessionary environment, without any experience. 

The purchase price almost dictates your property’s appreciation potential in a certain market, so do you keep buying in such market environment?

Some properties may actually do better in a recessionary environment

Net worth would be a good environment 

If you're property is an ADU in a suburb of Portland, it's tough to make a lot of cash given the abundance of those in Oregon's ADU friendly zoning environment.

I'm not a fan of HELOCs in a rising interest rate environment.