If I pay it off, I could maximize cash flow earlier, reducing financial stress and allowing me to focus on other ventures or simply enjoy life more.On the other hand, I know some people advocate for keeping cheap debt and using the extra cash to invest elsewhere for potentially higher returns.Why I’m leaning toward paying it off:Security: No debt = peace of mind.Financial freedom earlier: A fully paid-off rental would give me a significant monthly cash flow?

  $80,000 per year, and reduced increments until you hit break even and have the bank covered. 

Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.

If the Seller will not reduce the price to where it still makes sense to you then do not do this deal.

They are much less restrictive than other municipalities in South Florida that are actively trying to reduce the number of STRs.Let me know if you'd like to talk further on the topic! 

Screening everyone over 18 helps reduce the risk of costly evictions and ensures you’re fully informed about who will be living in your property.Additionally, be mindful of the number of occupants and how it might impact your property.

Over time, as property values increase, your wealth grows.Tax Benefits: Rental properties offer tax advantages such as depreciation and mortgage interest deductions, which can help reduce your overall tax liability.Scalability: Once you’ve mastered the BRRRR method, it becomes easier to replicate.

Hi @Akintunde AboabaIf you want to reduce your risk of difficult tenants, choose a province with fair landlord-tenant laws, like Alberta, and not BC.

If the market is tough, I reduce the rent rate over the full 12-month term.

While not mandatory, a specialized accountant can reduce errors and provide significant tax-saving strategies tailored to your situation.This post does not create a CPA-Client relationship.