Pay down mortgages or invest in stock market

[Lisa Wilson]

Howdy,

We bought a couple of townhomes a few years ago. Things have gone well. The rent covers the mortgage, insurance, and hoa fees. The rent checks go into one account and we pay expenses from that one account. There is enough in the account now to either pay off a mortgage or pay down both mortgages significantly. I'd like to buy another townhome sometime but not in the immediate future (the market is very pricy right now). The money is not doing anything for us (interest rate is so tiny). Should we pay one home off, reduce both mortgages, or invest it? Or don't do anything with it?

(I'd leave some cash in the bank for emergencies)

thanks all, 

LW