@Brian Ketner I like leverage so I can create "velocity" with my money, and also as asset protection strategy. 

One issue I have is that I'm 46 years of age and don't want to be in a situation where everything is paid off and one foot in the grave.I would love to hear people's thoughts and opinions on what is the best route to go.Thanks.First thing to think about is time value of money and the velocity of cash. 

Forced Appreciation and Money Velocity.  

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k I work with real estate tax clients; however, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

This allows the velocity of the funds to be increased.

$1 leaving those reserves devalues the USD more than $1 dollar should due to the velocity of money, it is overvalued I'll give you that, but what if banks felt comfortable all at once and released their reserves, what happens then.

I like to keep 6 months of PITI for each rental that I own (whether have a mortgage, owner finance or commercial) and I have found that THIS...not actual cash for down payments and repairs is what will slow my growth a little unless I increase the velocity of my reserve capital.

If your career keeps growing, you can increase your REI velocity. 

.- For those investors that have had property for a while are sitting on a lot of equity and are using 1031 exchanges or cash out refi's/Helocs  to expand their portfolios and increase their cashflow positionOther than these two situations i cant imagine an investor getting themselves into one of these sub 5 cap properties with so many other opportunities to find a better return (out of state, other asset class) unless they are only banking on good appreciation.Your question, which is the question of the year, is will the increased velocity, and volume of money (inflation) now in the hands of the people keep pushing rents and prices higher? 

Its about the velocity of the money.