I'm trying to break into this business and want to review rent rolls and profit and loss statements.  

However, your original question was to pay off the house or not and we are advising you to sell, so answer to your question is NO - do not pay off but use the cash to put 20-25% down payment on more doors to offset the loss of income on the original property.

@George Evans I used Dimtriy and Sense Financial.

What your financial situation/credit score looks like 3.

Bottom line, that's a personal decision for you and your partner based upon your financial positions.

Personally I think it's gonna be a doozy, and I've heard economists and analysts say this time things are different - followed by those same people saying the most terrifying thing you could hear a financial analyst say is "this time things are different".

Recent events have pressed more of a NEED than a WANT- looking to get my brother-in-law into a flip or BRRRR-type property for a few reasons: 1) Get a young single father an alternative living arrangement to current situation 2) Allow him to pay down debt 3) Get him interested in real estate investing for lifelong financial benefit.

For this 1st transaction, you'll learn home shopping, financing options, budgeting, home improvement, ongoing home maintenance and financial budgeting.

I think many professions have a leverage if they decide to become real estate investorsProperty management - as described by DavidAccountant - we understand Profit and loss statement, cash flow statement etcgeneral contractors - they will know estimated costs required to rehab a property.The rule is use your profession to become a real estate investor.If there is a skill that you are not an expert in - pay someone who knows how to do it better.

@Leo Kwok Good to hear the story and would like to know the financial side of your project, do you pay the purchase and fix all cash or other funding method?