Rental properties: owning free & clear vs. mortgage
I am still very new to this so please excuse my ignorance. What are the pros and cons to owning a rental property outright? It seems that cash flow would be significantly increased if you can pay a mortgage off, but through all my studying I never really hear anyone talking about it. It just seems absurd to me to have 20 loans out on homes that are cash flowing $100- $250 monthly. Why not pay off a couple at a time before adding to the portfolio? Once again I'm a total noob so please excuse my ignorance. Thanks for the time and happy holidays to you all!