Sure without money you can donate time, but I will argue that a large monetary endowment does way more than filling soup bowls an hour a week.

They mentioned they had unforeseen monetary issues come up. 

Some people DO need to get rid of their house fast NOT for monetary gain but illness, stress, health what ever and the amount of money they will get is NOT the deciding factor.

Also, the Seattle market has slowed and the monetary value of the house has started to decline recently.Selling: could net me about $250,000 (how much would selling fees eat into this?).

I'm not claiming to be a monetary expert, but I would caution everyone out there with the "refi until you die," mentality.    

While a handful of courses helped us to get comfortable working with numbers and large data sets, it was an expensive way to learn these skills - in terms of both monetary and opportunity costs.However, like many others in this thread, my degree got me in the door at my W-2, which has made getting conventional loans pretty straightforward (so far).

I have houses that I have bought via Tax Sales that I have paid as little as $1500.00 and they already had a tenant in them.I have actually had some given to me and I paid $200 to the person to have a monetary amount on the deed.

I think the ownership percentage should be based ONLY on monetary contribution.

As refinancing has it's costs, and they're not just monetary--time is another cost and the work u have to put into a refi. 

Also, improves your position in pricing should rent prices turn bearish unexpectedly during your vacancy time so you can be flexible in pricing in negative economic environments.Con's are more on the side of the whole concept of using the long term locked-in period with the bank essentially utilize inflation to 'short the dollar', as well as the more rapid diminishment of the mortgage interest paid tax advantage.All in all it is safer in a lot of respects to get to that property free and clear, but the major downside is missing out on the additional value that is derived from the power and monetary benefits that come from having a healthy expose to mortgage and other forms of financial leverage.