You answered your own question in the post- "Free up your line of credit for more potential property purchases"  I would measure how long it would take to purchase another property & create more cash flow if you don't refinance versus how long it will take to purchase another property & create more cash flow (& equity) if you do refinance.  

Again as with any risk you'll want to mitigate it by spreading your bets on different jockeys in the race.

I'm not sure how I feel about a separate garbage fee versus simply saying it is included in the rent and making the rent high enough to cover the cost, but still competitive with other parks.  

If I'm syndicating a deal you can bet that I'm being compensated for my time, efforts and expertise.

This is done because there can be so many differences from property to property in the MF world (24 units versus 32 units, tenant versus owner paid utilities, etc.)

We have been looking in multiple areas, and have been looking into Hawaii versus Oregon coast .

A discussion of risk could fill volumes and lead to tome-like posts though ;-)If anyone wants to learn more about the "pay off your mortgage for safety" versus "don't pay off your mortgage and juice the returns" debate you could fill out a whole week of reading on Mr.

@Colleen F.I have my bets on the resident.

I am so thankful I didn't score a great job...Moral of the story... bet on yourself and put yourself in situations that take you out of your comfort zone and force you to grow.

Is this tenant receiving his benefits through a disability (versus a pension)?