Here's a breakdown of both the risks and opportunities:Risks to ConsiderHigher Interest Rates: Financing is more expensive now, which can compress cash flow and make some deals less appealing on paper.

It sounds like you've done a great job in investing in yourself and taking personal risks. 

This is in RI so letting the heat out is not just a big cost but a risk.

"What Is The Biggest Risk For 2025" And 13 Other Highlights From DB's 2025 Market Survey"The Deutche Bank 2025 global financial market survey had 471 responses from around the world, and was conducted between the 10th and 13th of December 2024.

Many PMs ask for this in their agreements to reduce their own liability exposure.

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.

It’s gotten me seriously considering bringing an attorney in-house to handle evictions and other legal needs moving forward.I’m evaluating this from two angles:Cost Efficiency: With the expense as high as it is, having in-house counsel could potentially reduce costs over time.

Is there a way to reduce the amount of hours so you have more time for other activities?

This would obviously reduce my cash flow on both properties, as I would be paying the minimum HELOC payment plus extra towards the principal to pay it off quickly.

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.