What am I missing (besides in some instances you have a lower interest rate but do not get clean title to a property)?

They should be able to teach you about asset risk, neighborhood risk, lay out A, B, C and D class areas, have stats on delinquency trends, vacancy trends, and other variable cost projections. 

Why pay off the mortgage early? 

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

I already have 2 loans on the property with great interest rates that I'm not looking to replace.

2. don't use an appreciation rate.

Second Street is an international mortgage lender actively investing in Costa Rica.

At the end of the day, cash flow was similar because I now had mortgage payments. 

If it's already turnkey that means you're paying higher rates than necessary when you could put 20% down and get a DSCR loan with lower rates and fees. 

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.