I realize it's a mathematical issue that is really a function of the cost of the contract vs the cost of doing maintenance out of contract, but I was wondering if anyone else had looked into this and what conclusion you may have come to?

@Bob Bowling, That's not a mathematical formula (I keep that in the spreadsheet).  

I'm having a conversation with another Christian businessman, and he is convicted that "the borrower is slave to the lender".I know the arguments for and against borrowing to buy real estate, and from a purely mathematical argument it looks like leveraging good long term financing produces the best return.I am looking for a convincing theological argument for leverage.

There isn't enough land to build and it is mathematically impossible to build affordable housing. 

I thoroughly enjoyed reading your posts and the responses it generated, while simultaneously capturing a lot of details to increase my knowledge and understanding.Your injection of mathematical calculations added credibility and proven facts to the line of reasoning.This is a great story to tell and you have succeeded in doing so.I look forward to listening to the podcast!

As far as cash flow is concerned, that is a mathematical equation that can be easily manipulated.  

Now, I finally have an explanation that makes perfect sense mathematically.

Mathematically, paying one extra mortgage payment a year for 30 years offers significant savings.Look for a PM that can pay you electronically, if not, mobile deposits bank app.Venmo and PayPal.Always monitor your DTI.Keep LTV under 70%Accurately Reporting Rental Income: Some people repair as much as possible to expense as much as possible, in order to reduce their tax burden.

And mathematically that is best.

So it's purely a mathematical opinion, which is why I mentioned it.