Guys are these still worth doing? I was looking at retirement options with how to use some of the SIPP tax free money (when it comes to that time) and here's a hypothetical example. Say you had £200k to spend on a BTL. My thought was buy a 2 bed flat in Central Glasgow for cash. Rent £16k a year. Full management fees 15% (£2.4k). Service charge £2k. Maintenance per year I'd assume £2k. Leaves £9.6k left, 20% tax on that (due to other income elsewhere) and you've got £7.7k to play with.

Someone told me better to take that £200k and get 4 £200k BTLs on 75% BTL mortgages (£50k deposit each). But working on the above but factoring in an additional £6k per flat per year in mortgage interest (with the risk of interest rate rises) I just can't see how that's better.

Better than all of these is just keeping that £200k in a Sipp in a tracker averaging 6% per year after fees and inflation.

What am I missing? Obviously a lot lol.