Advantages of Paying Cash for a Rental?

[Brandon Coffman]

Hello, in the next year or so I will have 50,000 saved to buy a rental with cash. I have almost all of my consumer debt paid. Are there any advantages such as owning a property in your name? The only thing I see I will not get an ROI at 1,000 a month for 4-5 years or so. I don't want to finance and be stuck with a mortgage if I do not have a tenant. Advice & tips are greatly appreciated. I'm a Newbie.