If you pay down $100K in loan saving you $1K in monthly costs against rental income, or you invest that $100K in something that generates $1K in net income the result is similar.

@Caleb Christopher @Beth JohnsonTypically how much does that cost?

They were seeking secondary homes for their family that could be rented to help offset costs and didn't require an immediate or transferrable permit.

The concept makes a lot of sense but paying $700 a month to network is quite the cost/commitment.

ROI can vary, but some parking lots have great returns with minimal upkeep—just be sure to research zoning laws, demand, and operational costs before diving in.Good luck with your decision, and feel free to reach out if you want to chat more about any of these options! 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Better play it safe and use a warranty deed instead.Also, later on when you sell your property, it will keep the chain of title cleaner for the next title insurance.Last but not least, a warranty deed does not cost more than a quit claim deed...

I paid it off within the year, so it cost me no interest. 

You'll find that rental property investing isn't scary at all and a great property manager can actually save you more money than they will cost!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.