I am flexible a bit though depending on how I bought it and the terms of the deal.

This is nothing more than a pipe (often a flexible pipe) that is put down the chimney and is connected to the exhaust pipe from your heating stove/water heater/furnace, etc.

If you don't have reserves and can't borrow any money, or if you can't be flexible in your rents because you paid too much and deflation forces you to operate at a loss or they sit empty.Through rental properties I am also increasing my income right now and diversifying my sources of income if my wife or I should lose our jobs and couldn't find comparable wages.

Test for flexibility.

You want at least 30% equity (that's the usually investor rule of thumb) to give you some flexibility if you need to sell.

Then you can roll it over to an IRA, and you'll have more flexibility.

It will reduce your monthly costs and if you add another lump sum to the principle, you are doing the same thing as 15 years with a greater flexibility.

The question (someone else asked the same one): Increasingly, sellers are becoming more flexible and carrying paper (taking back a note) in order to close escrow on their investment properties.

The other consideration is to BUY LOW enough that your rent is flexible.

So, not really justified if you don't need the speed or flexibility.