It was just unforeseeable.

I have equity I want to cash out of one of mine because I know the ROE is decreasing and cashing out could allow me to buy more property but I hesitate for the same fears you are expressing.

Later, if you fund your reserve account from your cash flow, they obviously decrease your cash flow.

As you add more doors to your portfolio the vacancy rate decreases due to the assumption that all your tenants will not turnover at the same time.

Most were price shopping, looking to improve their living situation and decrease their rent.

This is even more so if the market is rapidly increasing or decreasing in value.

The amount of free cash needed to purchase a house and how "illiquid" a house can be (not to mention if the value decreases) are huge deal breakers for a lot of people, especially younger ones.

Here in Denmark everything is small and living more than 15 miles from the city limit decreases the interest in buying a home.

Again, you have to weigh the cost of the PMI vs the prospect of buying additional properties, or using the money to make improvements which can decrease your LTV as well.  

Requiring higher limits of insurance will also decrease the amount of contractors to choose from .