Paying off An Existing Loan

[Jim Cummings]

Questions for the smart Money and 1031 Exchange folks on the forum. 

Background: 

Property was bought via 1031 & is held in personal name (NOT LLC or S Corp:

Small mortgage  - roughly $42K. 

Current value around $300K. 

Current P&I - $285 / Month. In addition, I've been throwing  $1000 / Month toward the mortgage to accelerate payoff. The $1000 / Month are funds generated by other rental properties. So nothing coming out of personal pocket to accelerate the payoff. 

My objective (at my age) is to payoff the mortgage on this property. 

I have sufficient personal funds making whatever the abhorrently low Money Market Rate (0.25% ???) to payoff the loan without affecting my lifestyle. 

Questions:

1. Is this a smart use of personal funds to accelerate the payoff of the existing mortgage?  

2. For 1031 Experts: Would using personal funds in way complicate a 1931 sale of this property in the future?  

Appreciate your insights.