Prioritize your financial stability.

I couldn’t tell you what rates are today but I assume they are competitive.

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

Next up is a huge financial hit: closing costs.

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

How do you define financial freedom?

Quote from @Shawn Questa: Hi all,I am curious what some of the Pros would do to Help a Seller in this situation while making a Deal happen.I found a 200+ day old MLS Listing where the Agent said the Seller is in Financial Ruin, hasn't Paid the Mortgage in a year, owes about 180k on an approx. 210k House and multiple Buyers have backed out.I don't know how someone could not Pay their Note in a year and not at least be in Pre-foreclosure. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You should also consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

That may not apply to you, as a financial professional, but I thought I would share the story.Obiously you could re-lever your portfolio to bring the ROE back up, but then you have to place those borrowed funds somewhere that nets a high enough return that the portfolio is ahead, given the drag of the interest and any transaction fees.    

My goal is to create generational wealth for my family and to eventually have the financial freedom to say "yes" to travel adventures as a family.