If the property has solid appreciation potential or you're building equity while learning the ropes, it could still be a good deal.

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?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I have a potential partner who is a long-time friend.

Definitely not willing to put money into something like this and potentially worsen our situation.  

multifamily and single family both have potential value.

Also@Jed Butikofer as@Christian Chartier said, this area has great potential for investment.

 I am a relatively new house flipper.  One of the issues I have noticed is that some people think of a flip house as being the cheapest possible rehab.  To address this I took detailed pictures from beginning to end o...

I've had a couple OOS investors ask about ADU potential in our market... not sure what hurdles there might be with the city (permitting, zoning, or otherwise).

Not only does it hurt the returns, it is a very attractive target for ambulance-chasing lawyers and title fraud.