Must we forget the other federal agency, the Federal Reserve, is in a highly restricting posture right now, holding interest rates at historic levels to slow inflation.

Many homeowners locked in mortgage rates at historically low levels, between 2.5% and 3%, providing a golden opportunity for those refinancing or purchasing homes at that time.

S&P historically has returned ~10%.  

But as others @Becca F. pointed out California RE produced more millionaires than anywhere else historically.

consider the opportunity cost of doing this#1) sell house for cash or to a buyer with their own financing from a bank, etc and you get 315K at time zero, you invest that at historic SP500 8.4% return over last 220 yrs and it grows to $3,541,514.46#2) do owner financing and you get 100k up front that invested at 8.4% grows to $1,250,000, plus you get your payments at $1400 x 360 months or $502k, invested grows to $3,265,000 total including the 1.25 mil aboveso you come out 300k better not doing it and you don't have to service the loan and all the other risksremember banks don't even carry mortgage notes after origination, they dump them onto the US taxpayer via illegal-unconstitutional havens like Fannie/Freddie/HUD, and for last 15 yrs the FED has bought every MBS in the country, which frees up the Banks capital to do it again and make the real money on churning the points and feesplus will next 30 yrs have higher inflation than last 30 yrs?

The property is an existing STR and the historical P&L data is solid.

Quote from @Carlos Ptriawan:  investing residential where I can control and the appreciation curves is exactly like what I've forecasted.It's also easy to look at historical performance and say that something has performed exactly as predicted.

@Sarah Santa CruzIf you have funds and are liquid to cover repairs etc then I would pay it down as it gives you flexibility and exit strategiesI would not pay down the 3-4% loans as you can invest it and do better but at 7.375% investing to get that return (net) would be historical average so I would say pay it down

Also look at the historical vacancy rate.

Since Detroit seems to be a subtopic in this thread, here's an actual historical population chart showing a slight recent pop increase of 0.2% for current 2024.