A triplex fully rented out that currently generates an income of 3K.

My mother unfortunately, became a widower last year and was left with a few properties that includes 2 homes that maybe beyond repair and empty lot. It’s a very small town with rent average $850/monthly and YOY change...

The other rentals I have, I don’t need to pay off because other investments can currently generate the same amount of cashflow.Scenario 3: Leave as is, put money in other investments, and buy more property when deals come along.

Here are some pros and cons of each approach to help you decide:Paying Cash for One Home and Refinancing LaterPros:No Mortgage Payments: You won't have monthly mortgage payments initially, which can reduce financial stress.Equity: You own the home outright, giving you full equity which can be used for refinancing.Lower Costs: No interest payments and possibly lower closing costs compared to having a mortgage.Better Negotiation Power: Cash buyers often have more negotiating power and can close deals faster.Cons:Opportunity Cost: Your cash is tied up in one property, potentially limiting your ability to invest in other opportunities.Refinancing Risks: Future interest rates may be higher, making refinancing more expensive.Market Fluctuations: Property values might decrease, affecting the amount you can refinance.Buying Four Homes with 20% Down on EachPros:Diversification: Owning multiple properties diversifies your investment, reducing risk.Rental Income: Potential rental income from multiple properties can generate cash flow.Appreciation: You benefit from the appreciation of multiple properties.Leverage: Using mortgages allows you to leverage your investments, potentially increasing your return on investment.Cons:Higher Debt: You'll have multiple mortgage payments, increasing your debt and financial obligations.Management: Managing multiple properties can be more complex and time-consuming.Market Risks: Market downturns can affect all properties, amplifying risks.Cash Flow: If rental income is not enough to cover mortgage payments, you could face cash flow issues.Considerations:Financial Stability: Assess your current financial stability and ability to handle mortgage payments and potential vacancies.Market Conditions: Consider current and projected real estate market conditions and interest rates.Investment Goals: Align your decision with your long-term investment goals and risk tolerance.Professional Advice: Consult with a financial advisor or real estate professional to get personalized advice based on your specific situation.If you prioritize lower risk and less debt, paying cash for one home might be the better option.

@Frank ChinBased on the opportunity value of cash your equity, if your mortgage free, is most likely creating negative cash flow from your investment property.With the opportunity value of cash at a minimum of 10% for every 100K in equity you must deduct $833/month from your rental income to insure a accurate accounting of your TRUE income.Investors must keep in mind every property has two separate income generating streams.

If you can, I'd try to purchase all cash so you can maximize the benefits of refinancing once your property is rented and generating income.

What do you guys use for book keeping, to categorize transactions and generate Profit and Loss reports for your CPA? 

This property will lay the groundwork for all of your future investments, just think about how much income this home will generate over the next 20-30 years! 

And I'm buying another commercial property that will generate me about $3500/month cash flow NNN.My GA rental definitely outperformed my OH ones, at least in the past 4 years.I love N GA so far - lower property tax, more population economic growth.

We are now looking to see if Airbnb arbitrage may be something we can start to help us generate the cashflow we need.