Don't forget that when MVW takes back Trust Points or adds components to the Trust such that additional Points for Sale are issued, MVW pays the MF on those points until sold. And, the Trust Components have MFs that are tied to the operating costs of those specific locations. All of the Component locations are audited properties, so it's not like the multiple HOAs/COAs could be hoarding reserve funds, as it would all be disclosed in the AFS. And, reserve funding is subject to the independent reserve analysis reports. So, if there was a big stash of cash in reserves, it would be noted by both the auditors and the reserve analysis folks.
Of course, when MVW does take back Trust Points via a deed back or if MVW exercises its ROFR, then those Trust Points are able to be resold. So, yes, it does get "inventory" to sell. But if you're not being flippant by that comment about driving up MFs to create more inventory, if that were really happening, the BOD of the Trust (which is all controlled by MORI) would be breaching their fiduciary duties to all Trust Point owners. The company wants to stay in business and sell its product and manage the properties. It doesn't want to own Trust Points to sell.