Assuming I'm following correctly, this is dollar cost averaging - essentially, we should all admit to ourselves that we don't understand macroeconomic cycles, and just focus on investing in real estate in the moment, if it makes sense to buy it in that moment, rather than say "I'm at a market high - I shouldn't buy" or "I'm at a market low, I should buy everything."

Are we currently in a real estate cycle where it may be cheaper to build than buy?

Understanding market cycles can dramatically reduce your risk and increase your returns. 

And whatever the case is, what does a full cycle of deleveraging look like?

We provided her with a script of 15 different ads and she cycles between which one she uses.

And keep the cycle continuing, effectively growing my initial pile of money.

Say you he gets 10% for 90 days or more and gets a 10% equity kicker for each early 30 day cycle.

If the timing was right, I would put another 20% into real estate equity investments that were appropriate for the real estate cycle at the time.    

The introductory rate of 2.64% applies to the first twelve billing cycles after closing.

"Someone" gives the appraiser a target price that the appraisal seems to miraculous hit.