The net rental income should be about 65% more than the mortgage. 

For the mortgage you are looking at, you will be buying the mortgage on which apx 80K is due for apx 14K.

But there’s another option that’s often overlooked: mortgage recasting.

This is where expert mortgage brokers come in, acting as your guide through the maze of real estate financing.

If I have no mortgage the cash flow is more secure.

I have a contract on a house in Phoenix AZ with a value of $500,000 and a mortgage of $288,000 to be taken subto.

The main reason I ask is because that is significantly below primary residence mortgage rates let alone any investment loans, if you can get rates like that I might need to make some changes on my end hahahTo answer your original question, assuming all else is equal long-term fixed rate debt is valuable. 

Like Devin said, double digit rates and you could still have fees similar to a first position mortgage.

That being said, the vast majority of mortgage products available (primarily DSCR) to LLCs are still going to consider your personal credit in the underwriting process.

If you are going to use a mortgage originator, make sure they kiss the deal with their license number.