My house isn’t paid for but here’s my story:

I bought the thing in 2007 for $38k and did about $30k worth of repairs to it. I remarried and moved to the country in 2010 and tried to sell it, and didn’t get a decent offer on it. We left it on the market for 6 months. Our realtor was a “let’s set the price high and drop it if we have to!” so every 4-6 weeks, she wanted to drop the price because “You only owe $30k on it”! So now, if you see the house on Trulia or Zwillow or any of those sites, it shows “Price lowered 20%”, 3 or 4 times, which looks bad, IMHO.
We finally decided to try to rent it for a while and hope that the market recovered. I rented it for the same price as a 2-bedroom apartment, hoping to be able to pick good tenants. My attitude was that I wasn’t as concerned about getting rent as I was about someone taking care of my house.
The first family that rented it really made me re-think that attitude. They were a young couple with 2 toddlers and just awful awful awful credit. But they were in love with the house and I charged them a giant security deposit and they moved in. They even paid the giant security deposit AND an extra month’s rent because I gave them a little discount to pay early.
That was the only time I didn’t have to badger them and chase them down for rent. I had to give them eviction papers twice and finally after they’d lived there 7-8 months (yes, 2 months were paid up and 2 months were so late I was ready to kick them out! The other 3-4 months were just as bad!) I sat down with them and had a talk with them. Flat out said you can’t afford this house, and you lied about that. They did take care of the house, I’ll give them credit for that. They knew they were in over their heads and we decided to end the lease early, and I gave them their deposit back.