The one house a year, 15 year retirement plan

[Matt Murphy]

I have heard about this strategy previously, but can’t find much about it now or know what it is called.

For the sake of this example, I am going to assume there is no appreciation.

Buy 1 house worth $300k per year and rent it out. Do this for 15 years and put them all on 15 year mortgages. At year 16, when the first house is paid off, you cash out refinance and live off of that for the year. In this example, assuming 75% LTV, you would pull out $225k and it would be tax free.

Has anyone ever done this or heard about it?  It seems like a better way to retire off of buy and hold strategy vs traditional cash flow which might get you to retirement faster, but would require the management of many more units.