On the other hand, rental income properties can provide steady, long-term income streams with room for appreciation.In your shoes, I'd start by evaluating my goals as an investor.

Think about it and put yourself in the shoes of the investor. 

What would you do in my shoes.

My company has worked with many investors in your shoes ready to get out of active management and unlock their trapped equity.

Both parties on deed as tenants in common.Putting myself in the money-partner's shoes, even with the expectation of long-term property appreciation, I would want some immediate return on my cash invested.

Put yourself in the shoes of everyone involved.

You have to put yourself in their shoes and try as much as possible to use logic, refer to the lease, but also be understanding where it makes sense. 

If I was in your shoes, I'd pay them off or simplify the portfolio to the "best" ones and hit my cash flow goals. 

I've never heard of telling people to wear shoes in the house.

4) What I would do with 40k if I was in your shoes is i would get pre approved analyze the potential deals on small multifamily specifically a side by side duplex.