Any time you feel like paying off an investment property is a good thing just sit down and go through your tax return.It is a horrible idea.Too many new landlords and "new age" landlords blur the lines between their personal and professional interests.

I had one lady come into my office before we went appointment-only and scream at me that I was a horrible person and how evil capitalism was for America.

One thing people need to remember is that CF on a $500,000 4-plex varies significantly based on location.I wouldn't find one, but if I COULD find a 4plex to hit the market in Philadelphia (especially in close proximity to Center City) and have four 2/1 units, even in horrible condition, for $500,000, I'd probably tap into my own 401k for that deal, because it would cash flow so ridiculously well and probably be a great appreciation asset as well.

Here’s some real life examples of stuff that’s happened to myself & some of my friends using KC area PMs to give you an idea: Not listing a property for rent until a month after it was vacant, not listing a property at all for rent (and owner finds out 3 months later after he keeps lowering the price and lowering the price and can’t understand why it isn’t getting any interest and then finds out PM never listed it), doing half a** repairs that have to be redone or cause more issues and money later, stealing rent money and telling you tenant never paid, putting horrible tenants in your place without doing background searches (they lie and say they did but you do a simple google search and felon mug shot comes up)  & all hell breaks loose ...tenant trashes it, or you have to go through costly eviction cause they stop paying, can’t get your property rented to save their life ...months go by and you get feedback from interested tenants the PM never calls them back....upon confrontation they say they are busy and if a tenant doesn’t call them several times they assume they aren’t interested, being friendly with tenants and letting their rent slide for 4-5 months without eviction, using con artists repairmen who lie and say you need repairs that you don’t, PM paying an insanely high utility bill without question (from your money) or without inspecting for leaks/issues or that there isn’t squatters in there. 

Had a horrible experience with a flooring company that I had used in the past but had been bought so new ownership.

@Cara Lonsdale LOL your 100% right - I will deff try the cash for keys approach maybe that will work out, when I called she hung up on me, then I waiting a few minutes and called back, atleast this time she stayed on the phone but most of the conversation was her cursing him off, and me doing a lot of "yes - ma'am" "thats horrible, your right...." that type of thing, so she agreed to possible meet me, lets see what happens.

For students, I typically see either excellent credit, horrible credit, or no credit at all. 

People not from Houston have only seen the horrible photos on TV and may not grasp just how big this place is geographically, how spread out and dispersed everything is (meaning as bad it as it was, most folks were fine)... and decide to go elsewhere for work. 

It was a horrible experience Commercial loans take less time they do usually have a balloon at 5-10 years interest on mine now are 5.25%.

As far as my fears of having a horrible tenant as a first time landlord, I would say this isn't a bad situation to be in.