Pay off my renta lproperty or let the mortgage run?
I have a rental property with a 4.75% interest rate. My plan is to pay it off over the next 3 or 4 years and enjoy the increased cash flow. I am 60 and retired.
However, I have heard it is unwise to have a fully paid off apartment building in this litigious society. A fully paid off building would be very attractive to a lawyer whereas a property with a heavy mortgage would not be attractive.
Your ideas, suggestions?