If possible, consider a duplex or single-family home with extra rooms instead, as they offer better appreciation and flexibility.

If you pay off your mortgage (which is a good interest rate), you will likely burn through that cash flow as it is more accessible, AND that money isnt working for you anymore (unless you reinvested it).  

After quitting the RE space in 2008 as a burned out landlord with upside down properties, I rejoined the space as a curious vacant land newbie investor in early 2023.

I had a rental house that burned down. 

Quote from @Brook Burns: Thanks so much for the recommendations!

It is something that gives you the leverage to make more money and have the ability to not pay the debt on it monthly either (your burn rate on it). 

So make sure if you also want to collect last month's rent up front to not get burned, document that!

So make sure if you also want to collect last month's rent up front to not get burned, document that!

This gets people burned too many times by getting comps from a wholesaler, believing the comps, and then trying to sell it at that outprice that the wholesaler/bad agent gave is a huge miscalculation.

But then, something incredible happened—his business started thriving.With fewer daily distractions, Michael had time to find new investment deals, build relationships with private lenders, and even take a vacation.His portfolio doubled in size within two years.And for the first time in a decade, he wasn’t stressed.The Lesson: Let Go to GrowMichael realized the secret of successful investors: You don’t build wealth by working harder—you build wealth by working smarter.By letting go, he gained more than just free time—he gained a scalable, sustainable business that could grow without burning him out.Are You Like Michael?