Why 8.5% as my cutoff?

Many reasons but a simple one is comparative bond return - I use REITs as I’m familiar with real estate, so average yield now is 8.16%, so that’s my actual boggie, not 8.5% as I look at the REIT returns and I’ll take those with capital appreciation if I HAD debt over 8.17% I’d pay it off, otherwise I’d invest in liquid REITs and Preferreds.