I Know Leverage Is Great, But Are Paid Off Rentals Bad?

[Danny N.]

Obviously borrowing money increases you % returns cash on cash, but I have a couple rentals that are completely paid off and reading the forum is making me feel like I'm doing it wrong and should be refinancing and BRRR'ing the properties. Should I be cashing out my paid off properties and tapping into equity to borrow more or should I just be happy with the cash flow and peace of mind of paid off properties?

Is it just not wise to pay off a rental property with these low rates today? I guess I'm a bit old school and have this what if mentality and just like paying down debts quickly to save on interest.