BiggerPockets

I am 28 years old and have been paying $2350 on top of our $1200 monthly payment on our 120k house (taxes are about 400 a month here) @ 6%.

I was wondering what would happen if i paid it off, but then continued to buy one house at a time as it is paid off too. I figured it would look like this:

after I pay off my house, I can put $1200 + $2350 (like I do now) + $900 (assuming that is what my house would rent for after taxes) = $4350 a month on a house of the same price. After 3 years, I would outright own this, and could put approximately $1100 a month after taxes with what I was paying already, for my next - $1200 + $2350 + $900 + $1100. This would pay off the 3rd in a little over 2 years ....

Doing this about 6 times would give me a small handful of properties I would own free and clear over the course of about 10 years. The cashflow could probably be about $6000 a month or so.

Is this a good plan? Could I then retire at that point??? How would you do it?

Wow, 50%? So how on earth do people make it? How could there ever be a positive cash flow on rentals? For example - if someone rents the house that I am paying off now for $1300 a month ($400 going to taxes, $900 going to me) that means I can expect to only bring in about $450 a month or something for it?

Instead of buying one at a time and paying off one at a time, I would buy as many properties as you can as quickly as possible (at a huge discount).Then hold onto them for a few years and sell of the properties you don't really like and pay off the ones you do, so you own them free and clear.

EX: Pick up 20 properties this year....hold onto them for a few years....sell off 10 and pay down the other 10.

This is one of my first posts, but I think that I finallyh have worthwhile insight:
I seriously question the wisdom of paying off a below market rate mortgage when you are planning on getting a new one anyway. You are winning big to having a 6% mortgage. If you were to get a new one in the current environment (assuming we're talking 30yr conventional fixed rate), you would be paying 7%. Instead of paying off your current mortgage, you could save that money as equity in your next home. Put it this way:
You have a 100k home w/ 20k of equity and 80k from the bank @ 6%. You are planning on paying off your current mortgage and then getting a 2nd house. Your new balance sheet might look like:
2 * 100k homes w/ 120k equity and 80k from the bank @ 7%. Why not instead keep the below market mortgage and get a balance sheet like:
2 * 100k homes w/ 120k euqity and 80k from the bank @ 6%?
Besides the obvious fact that you have a cheaper liability, you'll also save on the friction costs that come with getting a new loan (broker fees, etc...). I know that it feels nice to " Delever" but there are two ways to do that: You can pay off liabilities or you can build equity. I recommend that you build equity. You can always use that cash to pay off the mortgage if there's some legitimate credit related reason. Another plus: you keep the cash in case you have an unforeseen change in circumstances.