@Chris Pace Most of the posts so far have been heavy on the disadvantages of owning outright, so I will stick with the advantages. For reference, I own 11 properties, no mortgages. 1. Closings are easier, cheaper, faster, and more under your control if you buy with cash. No bank paperwork or approvals. Inspections and appraisals are at your discretion. 2. Carrying costs during rehab and vacancies are much lower, therefore less worrisome. 3. Insurance coverage is under your control, not the bank's. 4.
