The idea of debt-free is that if a person is going to retire and has to completely depend on the income, they don't want a severe recession surprising them and causing them to default on the debt and losing the properties.

Instead of paying down someone else’s mortgage, you’re setting yourself up for bigger and better deals down the road.Your first deal is going to depend on a lot of factors—how important is location?

I think it depends on the individual and opportunity.

I imagine the whole process is simpler but can anyone tell me how different it is when you don't borrow the rehab costs?

Using a HELOC for your first flip can be cost-effective due to lower interest rates, but it risks your primary residence if the project fails.

Hi, pre foreclosure in all of its permutations, before the bank sends Notice of Default (NOD) or efter which is state even county dependant but often starts a 4 week clock till the trustee auction are the 2nd most difficult deal scenario and IMHO only experienced investors should bother, the 1st most difficult deal scenario are bidding at the court house steps on lord only knows what is being auctioned off sometimes even 2nd mortgages, you need to do so much home work to attempt to reduce your risk at the court house steps...Pre foreclosure no one talks about these issues, always about the nice sounding stuff like "motivated seller" get a good deal etc etc both are usually not the case.- 95% of folks in pre or post NOD want to stay in their house, keep their house inspite of them 100% will loose the house at the auction. 

The ability to effectively self manage would depend on the scale you are trying to buy. 

Cost approach A straightforward method that adds the cost of the land to the cost of building construction.

Hi Joshua,It really depends on your situation and your specific needs/wants.

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