If you have been buying properties which maintains good cash flow, why do you want to deleverage? Like me, I own properties in the slightly below median price range, easy to rent out and maintain cash flow.

Unless you bought expensive houses that can’t allow you to make cash flow even, then, you may be in trouble. If everybody followed my guide line, buy median to lower priced property in easy to rent locations, then, you only need to increase leverage to repeat the success formula. Why deleverage? People deleverage because they made investment mistakes, not necessarily because the market is bad. Even if RE investment is a great long term investment concept, when someone is not experienced, they either bought too expensive, fails to calculate the cash flow, then a good concept can end up costing the inexperienced investor big trouble.

Who said that investment loan is ARM? All my loans are fixed

Because I planned to hold long term in the beginning. I won’t take chance on ARM or interest-only loans. I applied for 30Y fixed for all my rentals and principle residence homes. I limited my purchase to not take jumbo loans. Be conservative on each purchase, but be aggressive on the number of purchase. Many inexperienced investors got it reversed, they got too aggressive on each purchase, either bought too high or take risky loan terms. That caused a good investing idea into a bad result. I don’t because I understand the eventual success is coming from a total high market position composed of multiple less expensive positions.