I thought it was admirable and for a good cause.

The house had some signs of foundation settlement when he bought it which were chalked up to age, however it’s clear now that there has been more recent movement (some of this may have been due to an earthquake a few years ago) causing about 3 inches of settlement along this very small house.   

Doesn't cause trouble for you/neighbors/city/police.That's pretty much the sum of it.

@Roy Kinzer Rent control in NJ can be a tough pill to swallow and unfortunately has caused many of my deals to fall apart quickly once buyers/future landlords realize how strict the controls can be.

Further, long-term upward pressures on inflation remain, and will cause the Fed to be cautious with interest rates. 

There can be specific issues that can cause the distribution to be taxable related to partners having enough basis / debt basis to distribute the proceeds. 

One of them caused an electrical fire and burned out an outlet.

., and mixing it with other business would cause much confusion.

However, been going through this now for years and it causes me to never make the leap.

The idea of debt-free is that if a person is going to retire and has to completely depend on the income, they don't want a severe recession surprising them and causing them to default on the debt and losing the properties.In a normal world, I would do that as well.