I think it’s a more recent consideration (maybe in the past decade or so based on my digging / anecdotal feedback) and perhaps some of you that have been in the business longer and simply renewing old policies may be getting a pass.  

I would get together with your realtor, have them tour your property and then run comps to see what the value add would be, then simply pencil it out to determine the return. 

If I pay it off, I could maximize cash flow earlier, reducing financial stress and allowing me to focus on other ventures or simply enjoy life more.On the other hand, I know some people advocate for keeping cheap debt and using the extra cash to invest elsewhere for potentially higher returns.Why I’m leaning toward paying it off:Security: No debt = peace of mind.Financial freedom earlier: A fully paid-off rental would give me a significant monthly cash flow?

If this is simply you not wanting to accept partial payments and the rent is current, stop accepting it - and send a Lease Violation/Notice of Quit for Non-Payment of Rent - and force the full rent to be paid per the lease or start eviction.  

I’d simply ask in what situations where the broker and the brokers firm did nothing to facilitate the sale do you think you should get paid a commission?

Business owners won't want to get tied up in litigation and if there is a good chance they will lose, it is easier to simply follow the contract.How would that work with a lower-end tenant? 

The combination of high costs and the after-repair value (ARV) frequently leads me to conclude that buying a new rental property is a better use of capital.

Officers all too often think the know the law simply because they wear a badge, when they actually know a lot less than most folks. 

Quote from @Arthur Crum: Jay, my cousin is an attorney and he is simply looking at the contract for me.

On the other hand, I’m hesitant to simply pay down more of a property, as we don’t need the immediate cash flow.Fortunately, both my wife’s job and mine are recession-proof, which allows us to be a bit more aggressive with our investments.I’d really appreciate advice from investors who have experience with frequent moves or military service.