So many people focus on interest rates of current vs interest rate they will pay on the next.

A refinance that only pays off the existing balance (plus any costs) is considered a rate and term refinance and should offer lower mortgage rates and costs due to simplicity.

If that happens, they have to pay your legal fees, also.

I heard the multifamily space is "Pay to Play".

More importantly... by paying yourself from your rental income, you are converting passive income into earned income, subject to Social Security and Medicare taxes.

In this scenario, you are lending money to yourself as an individual, it allows you to make regular mortgage payments to yourself rather than paying the P+I to a bank or other lender.The first step is to qualify for a Non-Arm’s Length Mortgage with a financial institution. 

Sometimes we pay to get the news. 

I am looking for some feedback on paying off a rental property.

What did you pay, what is market rate rent, how much equity do you have, and what interest rate/loan type do you have?

I used to design cabinets, so I simply sent them all of my pieces and parts and they ordered.