What's your risk tolerance?

I focus on spreading smaller amounts of capital across multiple deals to diversify risk while still participating in larger opportunities.

I'd consider turnkey investing a high risk strategy for that reason, with even the best possible outcome not being worth the risk.

If your return for investing in another property is greater than 8.5%, than it would be beneficial to invest rather than pay off the debt (would want a sufficient cushion above 8.5% to justify the added risk and work of investing in another property vs simply paying off debt). 

But risks remain around regulation, liquidity, technical execution, and market adoption, which are far less present in traditional real estate ownership.That said, this doesn’t change the intrinsic value of the house or the ability to meet buyers.

Low Risk: Disasters & Landlord-Tenant DynamicsKC is notably immune to major natural disasters—no hurricanes, low tornado risk—providing stability.

The risk that I DO understand is that, if there's no paydown, you're taking the risk of the property not appreciating enough.

The biggest surprises most people mention are how much due diligence still matters and how different managing paper risk is from managing property risk.

You can let the market appreciate over time, force it by rehab or use down payment - usually a combination of all of them, but with 0% equity I don't even know if I'd call that an investment.For a portfolio 50% to 75% is sensibel leverage, if you fall below that you are leaving money and opportunity on the table, if you go above you are redlineing on the risk scale, thats not sustainable for long.

Proposing any kind of shake-up in the housing market of course comes with its risks.