@Shaun R.Another benefit of keeping the mortgage is that it provides opportunity to invest elsewhere at a potentially higher rate of return than what you're losing in mortgage interest. 

Shaun  you need cash to put down on the deals you want to do .. 401k is great but they want skin in the game on the asset your planning on buying.

@Shaun Sanville, expand your search for comps.

Shaun

Originally posted by Shaun Reilly: I actually had the costs for holding/selling a bit higher assuming use of hard money (Which for a project that size I would use) so my $330K buy price only had the profit about $6K higher assuming that $35K budget.Yes, sorry...should have clarified that...I typically use 10% of the resale value for fixed cost estimating when it's an all-cash transaction.

That should also prevent the issues that @Shaun Reilly brought up

@Shaun Reilly that's  really great advice.

@Benjamin I Singer Forgive me if this sounds a little too harsh, but unfortunately there are no step by step guides and if you're asking these types of questions I don't really think you have what it takes....yet.

@Shaun WeekesUghh yes so true.

@Shaun Kiernan welcome to BP.