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A word of advice coming from a 20 year veteran - there is no "perfect" business model when it comes to real estate investing, you truly have to pick your poison.
In my case, I prefer lower end free and clear rentals.
Mortgages suck, especially when the unit is vacant Plus, I'd much rather receive a $600 rent payment with no mortgage to pay, than to receive a $1300 rent payment with an underlying $1150 mortgage - that's complete insanity to me.
But of course, my goal was to never have to work for anyone else ever again (I left corporate America for good back in February 2005 at age 26). I had no interest in waiting until I was in my 60's or 70's before I could begin enjoying life, but everyone's situation is different, so you have to figure out what is right for you...
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -Aristotle
“Do not wait to strike until the iron is hot, but make it hot by striking.”........William Butler Yeats
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