This might give a one-time (non-scalable) boost to cash flow, offer multiple value-add options, and allow the house-hacker peace of mind, via the assumed mortgage, in long-term breakeven or positive cash flow in the event that the value-add plans end up not being executed, and/or the person has to move out, and rent by the room or STR become unavailable for some reason at a future date.

Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.

Keep in mind, everyone needs a place to live in landlords provide a service of providing those places and keeping them in good shape, updating it, etc.  

With that in mind, maybe Memphis is not the place to invest.

It would be great to connect with like-minded individuals and support each other in our real estate endeavors.

Working with an RE attorney provides peace of mind at a fraction of the traditional commission structure of the RE. 

Do you mind expanding on how you attained closing cost and down payment?

Keep in mind, termination can take 30 days so you'll want to provide notice prior to the termination date. 

It’s such a great resource for learning and connecting with like-minded investors.

Keep in mind that I am selling them as affordable fixer uppers and usually only address any health, safety, and functionality issues.