2023-2024 DECIMATED my already broken finances and killed my 15 yr run being debt free with paid off rentals and a house near the beach in the Ca.

It's effective interest is similar to Mezz-debt at current rates but a bit lower.   

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

There is no requirement for @John Gillick to replace debt with new debt. 

Eliminate debt, establish a budget, and save.

Here’s how you can stay informed and ensure your rental properties meet all legal requirements.1.

@Jerry Velezif a property is owned outright with no mortgages, debts or liens on it, then it can (potentially) be purchased on seller financing. 

@Scott Isbister Do you know if Calgary has finalized the ability to legalize secondary suites in attached dwellings.

Plus new folks do a very poor job of screening the buyer for Ability To Repay (ATR) which involves pulling full doc and calculating the borrowers DTI, honest income, honest debt payments, prior debt payment histor (FICO) etc etc.Plus shockingly (or shocking to sellers) if you bought this investment house, fixed it, then are selling with financing you are selling "inventory" and y9ou owe taxes on the gain in the year of sale, you are NOT able to use installment sale to spread out paying taxes. 

Though DSCR gives you a better picture of how the property is projected to perform vs debt service, you can't rely solely on one measure to make a purchase decision.