There is an emotional cost to debt that some people don't comprehend.

No emotional attachment it is just pay the rent or get out.

I guess it's just psychological/emotional if not logical.

What you describe -- a bad property manager -- is probably the most common issue among buy-and-hold investors, and if you don't know how to deal with that simple issue (both emotionally and tactically), you're probably not ready to be buying as many properties as you are.

Emotional tone is notoriously difficult to convey in writing, which is something we all need to remember.

Probate/Bankruptcy Sales-To be honest I have only tried this once and it was such an emotionally challenging experience I won't do it again, however at the time I was young (24).

On the other hand, there is some emotional security in a paid off home.

I know, classic beginner's mistake, getting emotionally attached to a property.With the help of an independent inspector we touched up several details of the rehab work that were initially unsatisfactory.

There is a balance between points, interest rate charged, terms and risk that borrower and lender have to consider.More experienced lenders often get points for just that reason (and to cover the costs and efforts of moving money).While less experienced lenders tend to focus on interest rates and emotionally perceived risk of the investment and relationship to the borrower (how much they like them).That said, I'm not sure if points are necessary to a loan.

Just as in Poker, with Real Estate "LEAVE YOUR EMOTIONS AT THE DOOR."