There's absolutely nothing wrong w/ paying them off. "Savvy" investors will tell you not to pay them off and use the money for this or that....but small time investors (like myself, and seemingly you - not to offend you) have nothing to worry about w/ having it paid off. My only rental (which we use as an airbnb) is paid off, worth maybe $180k. I've had people tell me to take out a mortgage on it - and I've told them to f*ck off. I own it outright! Interesting about where you live. If you get bored, read "Rich Dad, Poor Dad" - it's basically a book about real estate and starting your own business (the benefits of tax write offs, etc). He talks about the "1% rule" - which is basically being able to rent a property for 1% of what you bought it for per month (such as paying $200K and getting $2000/month in rent). The 1% rule is getting harder and harder to come by. So if you're finding properties where you can hit the 1% rule you're doing very well. I had a house two doors down from me sell in January for $640K, the buyer immediately put it up for rent for $3000 - that just doesn't make sense to me. There's rural areas of Florida that you can get the 1% rule, but not many urban/cities. Good luck. Also, you should easily be able to refinance the properties, especially since you have well over 20% equity.