The benefit is it is revolving so you can take it out and pay it back multiple times.

Your insurance carrier will decide who is liable, and if it is the other insurance carrier then they will file a Coordination of Benefits with the other carrier.

I always tell people I wish I had caught the real estate bug in my early 20s.House hacking has so many benefits, and it’s amazing to see you taking advantage of it.

He also does solar deals that are out of this world in Hawaii but you need to be a Hawaii resident to get the full benefit.. what size are those developments?  

This would end up getting you some tax benefits and extra cash flow that could help you leverage that into another property...maybe a 1031 exchange.

Paying those things benefits you because they facilitate STUFF exiting the house. 

Quote from @Amit Chugh: @Tim Delaney - I was referring that one of the properties is listed as Section 8 Property, why one would list that in title, does it make any different or benefit for buyer or seller mentioning section 8 in title?

Multifamily properties in Memphis are still reasonably priced compared to other markets, and landlords benefit from landlord-friendly laws and relatively low property taxes.Additionally, many investors have successfully implemented the strategy you’re considering—acquiring and eventually paying off properties while maintaining steady cash flow.

If you are in a decent area where appreciation is on your side, its better to bite the bullet now, hold, and reap the benefits in the near future!

It will familiarize you with the basic terminology and benefits.