I'm also building a house with Delta.

Delta after insurance payout = -450,000 still owed to the mortgage company after the insurance payout. 

I recently came across an off-market piece of property in Delta Utah.

Points and the Delta on the spread.. in those days I was borrowing on my LOC's for about 7 to 8% apr.. and lending at 20% apr..

Quote from @Zach Rumfield: This particular property might make for a good house for professors or staff at Delta State if anyone has connections to that school.

This tactic is unlikely to be productive when there is a large delta in rate.

The way I've traditionally used them (i.e., simply transferring from AmEx to Delta SkyMiles), they're only worth 1%...well maybe a bit over 1.15% because I also have a personal Delta AmEx which makes mileage tickets come at a 15% discount. 

The amounts of square footage cover is so low the delta becomes a rounding error. 

If you can get 8-10% in a fund is the 2-4% delta worth learning it or let someone else do it?

in the heart of the delta.. what do you want to sell it for ?