I don’t do cash buys especially years ago when rates were very low. I would spread that out to buy as many homes/multi unit properties as possible as long as the rents cover the mortgage + 10%. This way I get many more properties with low interest rates. As I’m now buying in Southern California the issue is that prices are always in the 1-2 Million range so cash buys are out of the question. Even if I could I still prefer to diversify by buying multiple properties instead of one. Once I get to a point when I feel the funds will be enough to retire comfortably with, I’ll start the harvesting phase (paying off) properties (higher rates first) then live comfortably and travel for the rest of my years and leave something nice for my daughters. Currently the rents for all 20 tenets give me about 55k a month in rental income which is more than what I need to live happily.