I need advice on buy & hold or sell & buy

[Schelley Stamps]

Im a long time investor in Brunswick, Ga. I started investing over 20 years ago, and some of my houses Ive done the BRRR strategy, some I havent. They all have mortgages, but have equity, some a little, some a lot. Also I have money sitting not doing anything from a couple flips that I need to do something with & have considered paying off some of the mortgages. Some houses I dont clear much because the mortgage is higher after BRRR, & being single, no kids, 58 & living in a crazy up & down housing market I get worried about another crash & losing my equity. Im thinking Id like huge cash flow better than equity that can go away over night, so im thinking about selling my long term rentals (esp if they arent clearing over $400 after mortgage payment every month), & buying cheap properties for cash & not having a mortgage. Or I might sell everything & start over with cheap houses, of course bought right. Ive done ok in the stock market, but that can go away over night as well, so Im just thinking about investing in debt free RE. I have no clue about the tax consequences, & I know theres folks who say debt free is better, & others who say that mortgages & BRRR is best. My question is....why? Whats the consequences of each? I know Id be in a higher tax bracket with all that income, but I also wouldnt need as many properties to keep income coming in. I know a lot of folks say buy, buy, buy...but Im getting burned out & want to downsize. Any & all thought would be appreciated! Thanks in advance!