That's why I say 95% of the debt out there is on assets BELOW $125K in FMV.  

If you don't have the downpayment, go make some cash so that you do, either through saving from your normal income or some real estate investing efforts.Your point on debt paydown, although true, is not relevant to the argument of BRRR vs. traditional rental.

Personal background: Married with no kids, 100% debt free, live a rather tame lifestyle and don't spend large amounts of money, two newer vehicles (2020 & 2024) so no vehicle purchases expected for the next 10 years. 

The deals I underwrite have been cash flowing right up until I put debt service on them, even with taking a break even amount in a refi. 

My buy box is a home 5 years or newer, A or B-rated schools in the 200K-400K range that will appreciate over time with someone paying down my debt.

So now instead of feeding the hungry stock market you can feed the hungry rental.I have watched people keep big debt on their home and then have the stock market crash.

If this is done, then 75% of the gross rent for your current primary can be used to offset the mortgage debt of that property to 0.

With over an estimated $300 billion of extremely delinquent debt yet to be liquidated to the secondary market, there is a a lot of opportunity to reposition these loans, keep folks in their homes and make a very nice profit for all involved. 

If valuation came in at 50% of investor debt, then it would seem that share valuation would be just that, 50%.

Maybe you could find someone who wants to be debt free and have a large place.