Rents don't keep up with values, you don't hit the 1% rule and you either don't cash flow or the Return on Equity (ROE) is terrible.When you say "paper investing" are you referring to stocks and bonds or are you buying notes?

Depending on the rental rates, you would want to calculate ROE (return on equity) and you could potentially see what rents you are getting and refinance some equity out to use on other deals which would increase your ROE, technically lower your ROI on this property but would raise your overall ROI if used on another cash flowing property. 

For those with a solid base of financial literacy, his blanket advice quickly loses value and becomes counter productive.Your real concern here, Aaron, is Return on Equity (ROE).

Even if you were to cash flow, your Return on Equity (ROE) will likely be so bad that it's an inefficient use of your money.To address your specific question, I would be saving and investing your capital, not paying down your mortgage more quickly.

Yes 7 of the 11 charges were overturned by appeals court, but 4 still stand and the overturning was due to the intended victim  shooting the mother and 2 daughter team while they were attempting to break into the home.   

So your $500k of equity can produce $18k of cash flow a year at a whopping 3.6% ROE?

Do I have to follow the deed of covenant or can I get it overturned? 

Starting with Return on Equity (ROE).

Sometime ROE or return on equity is more important.

If you do that your Return on Equity (ROE) will be terrible.Why do you think you'll cash-out refi and have a lower payment?