In my mind, at least, this eliminates this “send $650k to the title company with instructions to send it back to you”.  

This is a little better for him because it eliminates the vacancy, so you leaving early is not as big of an issue.

By paying off the mortgage, I have eliminated nearly all fiscal risks associated with the rental property.

Having raised a lot of people's rents over the years just be prepared for them to retaliate with a bunch of service requests that could eliminate any profit

This will eliminate the need to try to tie in at some unknown point to the main on-site.  

It would be great to reverse the process of making the landlord advertise, eliminating the wasted time of sifting  the unqualified and government imposed minefields.

Not living off their portfolio.It's eliminating expenses.

You can't really understand what is happening here unless you create a process of elimination Stains area most likely due to water penetration.

Having no debt in a deal eliminates a lot of unknowns(risk).

Examples of short and long term uses, HELOCs & CES.HELOC(Short Term)- Use a portion or all of the HELOC now knowing you're going to pay down quickly, which eliminates payments and interest.HELOC(Long Term)- Many HELOCs have 10 year interest only draw periods, while CES have a P&I payment, HELOCs may have less impact on cashflow over the long term.- Perhaps you think rates are going to move lower.