As a bonus, if interest rates do decline in the future, I can refinance to a lower rate which creates more value.While I have invested into mutual funds, done extremely well, I believe hard assets is a nice diversification at this point with a highly inflated stock market.

And Rome's decline began in the 3rd century, after it hit its peak in the 2nd century.

If I get a tenant, I would really like to refinance and pull out capital, if or when rates decline; then, I will purchase another deal with that capital. 

This works great in theory, but needing your reserves and a decline in the equities market have some covariance, so if someone wants to do this the amount of reserves you'll need are larger than if you kept them only in an FDIC insured savings account.

But if you allow me to be a bit of a critic, I did find it disappointing that the main bad guy (Bert/Oceanpointe) was not a part of the piece other than being referenced by others (maybe I missed the part where you mentioned he/they declined to comment?).

I believe we will see a price decline, but s far I have been wrong.  

After one year, if they are causing problems, you can simply decline to renew the lease.  

as long as you give them the option in the contract to decline your offer of taking the home without any penalty.

And how much will your portfolio decline in equity or cash flow in the next recession?

Revenue is down slightly from last year single digit percent decline.