Payoff LTR if you plan to not acquire more?

[Lindsey Ceane]

Looking for some advice… I currently own several long term rentals. I have a few that are paid and some that are not. My end goal is to quit my W2 and live off of the rents. My husband and I do not have children so this was not done with the intent of building generational wealth. We want to travel and still be able to maintain a decent lifestyle (I like new vehicles :) ). I have been saving and we have funds to put toward the mortgages and could be close to paying them all off. However, this would then be our only investment, as we would be using the funds we have in stocks and bonds to pay these off.

With our current situation, I may look at purchasing a STR but I do not feel the need to continue down the LTR path since we could maintain our lifestyle once they are paid off.

Is it smart to pay these current LTR off?

Thanks!