I'm wanting to use funds from a rental that I have payed off for another deal.

Does that rent include vacancy such as would be included if you used average daily rate (ADR)You have utilities, maintenance/cap ex including on tne furnishings, PM (always include it even if self managing because your time has value), potential vacancy, increase in insurance cost (STR/ MTR insurance typically costs extra), and miscellaneous.Your cash flow will be significantly less than the $1500 that was rent minus PITI.However, if the house is bigger than you need then there is opportunity.  

People took out a 30 year mortgage to pay off that loan.

I know there is a lot of opinions out there about whether to leverage, or pay off properties.  

Hey BP, I have a smaller portfolio of long term rentals and I am looking for some protection advice. I’ve been advised to look into an umbrella policy. Any of you out there have experience or advice on an avenue to pu...

Quote from @Mike Kirby: Quote from @John Underwood: I have a 6 BR Vrbo that sleeps 23.You can set your extra person fee above a certain number.We charge an extra $1,000 for weddings.If people just come over to visit we don't charge extra for that.Do you have a queen and bunk beds in every bedroom?

Most of the times, I am having to pay my own rent where I am leaving and even cover the mortgage of the house.

I paid the partner out-does he pay captial gains tax on the earnings? 

Tenant always pays

Current P&I payment is ~$2315/month.If I wanted to, I could pay an additional ~1100/month and pay off the whole balance by 9/2031.