You would now be free & clear of any debt service and the expense impact of such.

Or is qualification your main preference 1-4 unit fha conventional loans will qualify off DEBT to INCOME or DTI while commercial portfolio loans will qualify off DSCR or debt coverage service ratio (this assume you’re not going to live there if you’re going to a credit union).So you asked a loaded questioned but I gave you some questions/answers to think about if you could provide more information perhaps more commentary can be added further.

Essentially there are investors out there that can build a large enough portfolio with little debt that can cash flow enough for a great life.If you want to scale to many properties then you will want to consider leveraging your existing properties.

I'm not a fan of their debt when I'm not in control. 

I have seen a lot of videos of people are saying "Utilize debt as the power to take these leaps," so this is where I am ready to go if the deals make sense.Thanks for anyones help Regarding utilizing debt- In my opinion the proper way to utilize debt is to purchase assets that throw off more cash than required by the debt. 

Keep an eye on your debt-to-income ratio and overall leverage to avoid overextending.

Tax on Debt-Financed Income: Subject to UBIT.3.

To that end, in most cases even if the properties are owned within an entity, the principles (investors) will need to personally guarantee the debt.

Readers should seek professional advice.I believe the Note creates liability for the loan, the mortgage creates a lien on the real property that secures the debt. 

Technically, you're using equity which is better to pay off in debt so restructuring could be good, but you need to really look at the returns.