Is it better to have debt than own free and clear?

[Terri B.]

I heard an investor on a call say it's best to have some debt on properties for protection. There wasn't time to discuss in detail so I'm asking you all fellow investors about this. What's your perspective and why? I was thinking perhaps from a legal perspective any suits would also involve the lender and thus have greater "protection." ??? What do you think, what advice have you taken or what are you doing on this?