Someone mentioned wanting to be within driving distance of a property, but I actually prefer not to be close.

As you mentioned, the benefit to paying it off is the peace of mind and simplicity. 

I know a few investors that do it here in Tempe, Mesa, and Glendale - not to mention you can do it in Phoenix as well. 

@Brad KanouseYou've gotten some good info so far from Arthur and Dmitriy and I wanted to add in some other things to think about as well.1.Self-Directed IRA (SDIRA): This is what @Dmitriy Fomichenko mentioned, and he's right, it could be a self-directed IRA or a solo 401k.  

although Dutch is CEO, it is frequently mentioned by him and Amy Vaughn about co-owners and business partnership. 

If after interest rates spiked a buyer waited for them to drop back to 7%, they would have waited 21 years til 1993 for them to get that low again.Hope he isn't holding his breath.

As others have mentioned, DSCR loans are generally for turnkey rentals (although outdated rentals may still qualify depending on the level of deferred maintenance). 

@Robert Ellis Since you mentioned panels, have you looked into SIPs at all for your builds? 

You could wait to close until you have your license and rather rental arbitrage the unit from seller until then.

This approach might speed up access to funds without waiting for June.