You could hold it for cashflow, though I'd recommend that you refinance to retire the existing loans as they could be called anytime after you record the title change.This being said there are a bunch of possible exceptions to all this, like HOA liens and IRS liens, but this is how the general case works.

However, as a retired Aerospace Engineer, I can say I have had a great time as a W2 earner as well.     

I personally like the State of Florida because it is investor friendly, has no state income tax, and people are retiring from up north and moving here.

It’s been about 10 years now and I feel like my real estate investments will provide an ample retirement but I’m still working towards full time real estate investing.  

Owning a Retirement HomeSome real estate investors buy rental property out of state with the intention of living there one day.

My mom recently got divorced (August 2023) and is looking at a 260k for her share of retirement account, debts of about $50k ($30k owed to parents who helped with legal fees, $6500 owed to sister who also helped with legal fees, and $8k owed on life insurance that ex husband had take out and left to her) and an alimony of $5600/month. 

(I got medically retired last year.) 

I have no reason to doubt the authors information and want to congratulate David Zheng personally for what he accomplished.My reason is because he retired one year sooner than I did!

You presumably plan to withdraw funds at your retirement age. 

My mgt/consulting/lending/wholesaling, etc entity type is an s-corp, but I wanted defined benefit retirement plan options.